Whales have transferred a staggering 44 billion SHIB in the last 60 minutes, according to statistics from the Etherscan tracker. Twelve transactions totaling between one and eight billion Shiba Inu were used to transmit these billions of SHIB.
Since whales have been purchasing and selling these SHIB, the majority of these meme coins have either been removed off significant exchanges or transferred from anonymous addresses to their wallets.
43.9 billion SHIB on move
Five billion Shiba Inu were sent to a Crypto.com wallet in two transactions, according to Etherscan data, while 3.4 billion SHIB were transferred to a wallet associated with Binance.
But far more SHIB were taken out of exchanges like OKX, Coinbase, and Binance. According to Etherscan statistics, anonymous wallets moved 3.3 billion SHIB from OKX, 2.8 billion from Coinbase, and 12.4 billion SHIB in large pieces (up to eight billion meme coins) from the Binance platform.
The remaining 44 billion SHIB were distributed among unidentified wallets.
SHIB retakes leading market cap position
The joke currency SHIB moved up to position 12 on the CoinMarketCap website over the weekend as its market capitalization value rose beyond the $6 billion mark (now stands at $6,229,704,095).
On the same analytics platform on Saturday, SHIB, PEPE, and XRP were identified as the top three trending currencies. SHIB’s pricing has increased significantly during the past week by more than 15%. According to statistics from CoinMarketCap, it has lost one zero off its price and is now trading at $0.00001056.
Shibarium launch close as ever
The Shiba Inu community anticipates that a long-anticipated event will finally take place within one or two days. The Layer 2 blockchain for Shiba Inu, dubbed Shibarium, is probably going to be released by Shytoshi Kusama during the Blockchain Futurist Conference in Toronto on August 15–16.
Since hundreds of projects have already committed to using Shibarium to develop their decentralised applications (dApps) and ecosystems, the price of SHIB is anticipated to soar as soon as it occurs. The BONE token, which will be utilised as gas on Shibarium, will be used in each transaction to fuel the impending SHIB burns.
Puppynet, a testnet, was created on March 11; however, after August 5 all operations on it ended, the transaction count decreased to zero, where it is currently since the community is anticipating the debut of Shibarium on the mainnet.
