Data shared by Etherscan shows that over the past hour, anonymous wallets have transferred an enormous amount of Shiba Inu meme coins.
Fifteen transactions were made, carrying a total of 42 billion SHIB, the equivalent of merely $327,600.
About 14 billion, in several transfers, were withdrawn from major crypto exchanges, including decentralized ones like Kraken, Unicord and 1inch.
A total of 2.4 billion SHIB were transferred from anonymous addresses to a Binance 14 wallet with a likely target of selling these canine coins.
The rest of the 42 billion SHIB was shoveled between anonymous crypto wallets in massive transactions, the largest of which carried 6.4 billion SHIB.
As reported by U.Today on Sunday, wallets of large SHIB holders suddenly faced massive outflows, totaling from 268 million to 2.47 trillion Shiba Inu. Later on, some of these wallets had incoming SHIB transactions; however, the amount of SHIB they brought was smaller than had been dropped before that.
Shibarium reaches new all-time high
According to data shared by Shibarium beta explorer Puppyscan, over the weekend, Puppynet has reached a new historic peak in terms of transaction count. Now, it has crossed the level of 32 million transfers.
The number of connected wallets remains at the 17,062,522 mark so far.
All transactions on the Shibarium mainnet, which is expected to be released later this year, will be powered by the BONE token. Part of BONE gas fees will be locked and used for burning Shiba Inu meme coins by moving them to unspendable wallets.
The launch of Layer 2 blockchain Shibarium is expected to happen after Aug. 16, when the Blockchain Futurist Conference in Toronto, Canada, will be over. SHIB will be among the sponsors of this significant annual event, and the pseudonymous lead developer Shytoshi Kusama, who has been doing very well at hiding his true identity, will be a speaker at the conference — through an AI app.