Big Shiba Inu Token Move: $46M Mystery Amid Shibarium Growth

Shiba Inu (SHIB)

A mysterious owner of a large amount of Shiba Inu tokens (SHIB) moved their whopping 4.25 trillion tokens, valued at around $46.4 million, to a new wallet. This action was noticed by whale transaction monitors, but there’s no indication that they’re selling the tokens.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On

Interestingly, this transfer happened during a period of significant token burning in the Shiba Inu ecosystem. In just 24 hours earlier this month, over 8.6 billion tokens were burned. This coincides with Shiba Inu’s collaboration with domain firm D3 Global, allowing users to acquire .shib domains.

Shiba Inu’s Whale Transactions and Shibarium’s Growth

The Shiba Inu community took notice when a significant whale moved 4.25 trillion tokens (SHIB), worth about $46.4 million, to a new wallet. Importantly, the funds didn’t appear to be heading to cryptocurrency exchanges, indicating they might not be sold on the market.

This attention-grabbing move occurred around the same time Shiba Inu launched its layer-2 network, Shibarium. The total value locked in Shibarium briefly surpassed $1 billion, reflecting the surging value of SHIB and the increasing adoption of the cryptocurrency. MARSWAP currently leads as the largest decentralized finance project on Shibarium, boasting over $555,000 in total value locked, followed by ChewySwap with $211,000.

Shiba Inu Community Analyzes Shibarium Against Ethereum

Amidst a significant Shiba Inu whale transaction, the community took a closer look at Ethereum’s transaction fees and speed in comparison to Shibarium. A user named Clifford highlighted that, even though Ethereum’s transaction fee was lower than initially claimed ($31.62 reduced to $1.33), it remained considerably higher than Shibarium’s modest fee of $0.043 per transaction.

Emphasizing Shibarium’s economic efficiency and scalability, another community member pointed out that while Ethereum processes around 13-14 transactions per second, Shibarium manages five times that amount within the same timeframe.

Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On

Shytoshi Kusama, Shiba Inu’s lead developer, contributed to the discussion by stating that Shibarium can process up to 200 transactions per second. Confirming this, Kaal Dhairya added that Shibarium’s current rate of 200 transactions per second is due to the existing block limit for certain transactions.

Centered JavaScript

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News


  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

    View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *