Here’s Why Shiba Inu Will Be Dominating Whale Wallets

Sahana Kiran
Shiba inu
Source – Unsplash

Shiba Inu [SHIB] has been quite popular among the cryptocurrency community. Whales have taken a special interest in the meme token and have put it over several other assets. More recently, Ethereum [ETH] whale “Boromir” made a massive purchase.

According to WhaleStats, this particular whale bought 120 billion SHIB worth $1.45 million. This sum was sent from the wallet address 0x9acbb72cf67103a30333a32cd203459c6a9c3311 which now holds over a trillion SHIB tokens.

Even before this transaction occurred, SHIB was the most-held asset by the top 1000 ETH whales.


Looks like this trend would persist further ahead of the upcoming launch of Shibarium.

Is Shibarium on the verge of launching?

The entire Shiba Inu community has been awaiting the rollout of the layer-2 network, Shibarium. After teasing the community for months, the beta version of the development is envisioned to make a debut in February. The potential increase in whale activity over the past few weeks is largely associated with this launch.

Additionally, the total addresses in the network surged to an all-time high of 1.29 million.

Lead developer Shytoshi Kusuma’s Twitter bio hinted at the possibility of a Valentine’s Day launch. More recently, in a Telegram message, Kusama asked the SHIB Army to “keep popcorn on the ready.” This further indicated that the Shibarium could be coming sooner than expected.

Shiba Inu untethered by market rise

Steering away from the notion of the cryptocurrency market, the price of SHIB witnessed a dainty increase of 0.68% over the last 24 hours. This was much lower when compared to its counterparts. At press time, the meme coin was trading for $0.00001196.

Nevertheless, the asset’s current levels are significantly better than its condition last week. The asset plunged to a low of $0.00001099 and even rose to a high of $0.00001226.

Shibarium, however, is expected to boost the price of the meme token.