With the upcoming debut of “Shibarium,” Shiba Inu, a cryptocurrency that started as a meme but has already established its market presence, is creating a stir. According to IntoTheBlock data, entities owning enormous amounts of cryptocurrency known as “whales” have traded billions of SHIB tokens in the last day.
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— SAY CHEESE! 👄🧀 (@SaycheeseDGTL) May 31, 2023
Shiba Inu’s large transaction volume has also increased, reaching around 1.13 trillion SHIB at the same time as this enormous financial transfer. It appears that big-time investors are moving ahead in preparation for the next significant cryptocurrency news, which is probably the introduction of Shibarium.
Whales And Burn Rates – Shiba Inu Active Market
Large transaction volumes serve as a crucial indicator, providing a picture of the actions taken by significant players—often referred to as “whales” within the crypto ecosystem—during a certain time period.
📢Whale activity spikes ahead of #Shibarium launch for #ShibaInu! 🚀
🌊Large transactions & increased burn rates indicate a market bracing for impact.
📈Will this propel #SHIB to new heights? 💹#CryptoNews #Altcoin $VRA #Blockchain #Cryptocurrency $SHIB #XDCNetwork pic.twitter.com/WPO1lBA5AX
— Clifford Clinton | Cryptocurrency & Fintech 📈🚀 (@Clifford149d) August 3, 2023
The Shibarium Anticipation
The most active SHIB holders recently may have something to do with the imminent Shibarium launch. On X (previously known as Twitter), proponent of bitcoin Davinci Jeremie recently expressed his optimism, writing, “Big things are happening for Shib, and I look forward to seeing what happens.”
The coinbase chain #Base is just an anticipation of what’s coming with #Shibarium – the blockchain of $SHIB which gas is $BONE
Which will be the $BALD of Shibarium? I expect it to be either $DOGPAD, $NFAI, $BAD or directly $BONE
I’m ready and bags loaded 🫡 pic.twitter.com/EfymMbzCOg
— Rune 🔮 (@RuneCrypto_) July 30, 2023
The official SHIB account on X also gave a clue about the community with a post that featured a happy-looking Shiba Inu dog, which served to heighten interest. The uncertainty surrounding the specifics of what these “big things” might be feeds the Shiba Inu investors’ excitement and curiosity.
Shiba Inu token SHIB has experienced a significant retracement over the past 24 hours after experiencing a more than 5% spike over the previous 7 days. SHIB is currently trading for $0.00000817, down 1.1% from the previous day.