Recent tweets on Twitter/X by well-known cryptocurrency tracker Whale Alert claim that huge anonymous cryptocurrency holders, referred to as whales in the ecosystem, have shifted an astounding quantity of Shiba Inu meme coins valued at around $100 million in fiat money.
Within a day, the Layer-2 solution Shibarium achieved a new significant utility milestone and experienced a sharp rise in daily transactions.
8.4 trillion SHIB wired by anonymous wallets
Two enormous SHIB chunks were observed by the previously described blockchain tracking service as they were being transported between unidentified cryptocurrency wallets. There were 4,239,147,213,294 SHIB coins in each transaction.
https://x.com/whale_alert/status/1739265371272560773?s=20
Alongside this, data from the analytics aggregator IntoTheBlock revealed a 266% increase in whale activity over the previous day, as previously reported by U.Today.
The identical amount of SHIB was moved twice, according to information made public by Whale Alert: initially, it went to an unidentified -8b51b wallet and then it was transferred elsewhere.
Shibarium surpasses new big utility milestone
The number of transactions on the Shibarium network has increased dramatically recently. By Sunday night, it had reached 180 million, and today it has added almost 6 million more transfers. As of right now, this metric is 186,082,902.
The volume of daily transactions has also increased, hitting 7.8 million after seeing a little dip to 5 million in the previous week.
The SHIB team revealed the highly anticipated update in early December, and the Shiba Inu community is eagerly awaiting it. Puppynet, the Shibarium testnet, will be moved from the Goerli network of Ethereum to Sepolia, which is based on the same second-largest blockchain. This will guarantee the SHIB development team a significant improvement in Shibarium scalability, lower transaction costs, and expedite transfers.
Larger burns will be possible because to lower transaction costs and faster transfers because they rely on gas fees paid by Shibarium users in BONE tokens. As anticipated, the aforementioned change will cause the SHIB development team to move from manual to automatic mode for SHIB burns starting in January. Through four large-scale transactions, the team has so far taken approximately 33 billion SHIB out of circulation in November and December.
