Shibarium Hits Record High While 49 Billion SHIB Change Hands by Whales

Vignesh Karunanidhi
Shiba Inu Price Prediction (SHIB): September-End 2023
Source: The Cryptonomist

Shiba Inu, a cryptocurrency that emerged as a meme coin, has garnered substantial community interest and involvement in diverse initiatives. This includes the development of the Shibarium network, Puppynet.

During 2022, the Shiba Inu team initiated several projects, such as the Shiba Eternity game and the SHIB metaverse. These initiatives sparked enthusiasm for the forthcoming debut of Shibarium. However, the launch of Shibarium encountered delays attributed to various factors.

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Based on data from Etherscan, there has been notable activity among cryptocurrency whales recently, involving the transfer of nearly 50 billion Shiba Inu. These transactions encompass withdrawals from crypto exchanges, transfers to exchanges, as well as movements of SHIB between wallet addresses owned by these large holders.

Etherscan data shows that eight transactions involved the movement of billions of SHIB, with one transaction worth over 9,571,054,391 SHIB. 2.4 billion SHIB were transferred to Binance and one billion SHIB to KuCoin. The rest of the 28.7 billion Shiba Inu went between anonymous wallet addresses.

Shibarium hits milestones one after the other

Shibarium’s Puppynet was successfully launched on March 11. Since then, it has made considerable progress. According to the latest data, the Shibarium puppynet has achieved another remarkable milestone.

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Since its introduction, the Shiba Inu Shibarium testnet has demonstrated impressive transaction processing capabilities, handling a total of 32,355,899 transactions to date. The network has also generated 1,841,216 blocks, with an average block time of five seconds, indicating efficient operation. Furthermore, according to data from Puppyscan, the number of wallet addresses has surpassed 17,062,580, highlighting a growing user base.