Shiba inu

Whales Move 542 Million SHIB Ahead of Upcoming Shibarium Launch

Yuri Molchan

Recently shared analytics data indicates that SHIB whales have become active and are moving SHIB to cold wallets

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Data published by Arkham Intelligence platform shows that within less than an hour, several massive chunks of SHIB have been transferred.

Overall, 553 million Shiba Inu meme coins have been moved, with slightly under 200,000 SHIB sent to dead-end wallets, i.e., burned.

553 million SHIB on move

The largest SHIB lump here contained around two-thirds of the whole amount — 405 million Shiba Inu. It was moved from the Binance exchange to an anonymous wallet. A total of 100 million SHIB was transferred from a SHIB contract to a wallet on the OpenSea NFT marketplace.

The Arkham tracker also reported that 111,000 Shiba Inu were moved from Coinbase to a dead wallet.

Image via Arkham

SHIB burn progress

Shibburn tracker has published fresh data shared by Etherscan, which shows that within the last 24 hours, 35,342,371 Shiba Inu coins have been sent to dead addresses, which are unspendable and no tokens can be withdrawn from them. This automatically means that the tokens locked there go out of circulation and reduce the supply that circulates in the market.

The biggest chunk here carried almost half of the total amount of the 35 million, 16,901,258 SHIB.

Shibarium launch might be month away, testnet sees major boost

Recently, the pseudonymous leader of Shiba Inu Shytoshi Kusama published a blog post in which he disclosed some news about the approaching Shibarium mainnet release.

According to the Medium article, Shiba Inu will be among the sponsors of the annual Eth Toronto conference, where major SHIB-branded projects will be announced officially and Kusama will give a speech through AI.

Kusama also said that it is highly likely that the launch of Shibarium mainnet will be discussed there in detail, and the rollout will happen after the event. Shibarium testnet dubbed Puppynet saw a major increase in the total transaction count earlier this week.

As for the Shiba Inu doggy-themed coin, at the time of this writing, it is changing hands at $0.000007546, according to data shared by CoinMarketCap. The coin currently ranks 18th on this crypto reference platform.

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