In an unexpected turn of events, a leading crypto entity has initiated a significant movement of Shiba Inu tokens (SHIB), coinciding with the decline in the value of the popular memecoin. Whale Alert, a blockchain tracking service, reported that trillions of dollars worth of SHIB tokens were transferred from Shiba Staking to the renowned global crypto exchange, Binance.
Crypto Whale Big Transfers
Amid the recent market turmoil, a deep-pocketed individual made an astonishing transaction, moving 4,000,379,151,023 SHIB tokens, equivalent to $31.7 million, to Binance. At the time of the transfer, the Shiba Inu was trading around $0.00000792 per token, witnessing a decline from its peak of $0.00000872 over the past seven days.
Current Rated Shiba Inu
SHIB holds a value of $0.00000735, reflecting a 6.73% decline in the last 24 hours. These fluctuations have caused most of the SHIB holders to lose money, as only 3% are enjoying the profits. In comparison, 8% have managed to break even, according to IntoTheBlock, a leading blockchain analytics company.
Insights into SHIB Holders and Memecoin Trends
Further IntoTheBlock analysis reveals that 69% of Shiba Inu holders have held their memecoin for over a year, while 28% have held it for a year or less. Additionally, only 3% joined the SHIB community in the past month. This statistic shows the long-term commitment and enthusiasm shown by the majority of SHIB holders.
Shibarium: An Emerging Layer-2 Project
Amidst this market development, Shibarium, Shiba Inu’s innovative layer-2 protocol built on top of Ethereum (ETH), is gaining popularity. Similar to Polygon (MATIC), Shibarium continues to attract new users who are actively experimenting with its testnet. Notably, PuppyScan.Shib, a blockchain explorer, reports that the beta version of Shibarium currently has 16.7 million wallet addresses and witnesses a daily transaction volume of 536,181.
Shiba Inu’s Exciting Metaverse Venture
Adding to the Shiba Inu excitement, the widely acclaimed dog-themed meme asset recently unveiled a trailer for the highly anticipated land-based metaverse Rocket Pond. Additionally, the developers have introduced The Game Builder, an important feature in the metaverse, which allows users to create immersive spaces to relax and offer landlords a lucrative platform for monetization.
When a mysterious crypto whale orchestrates a monumental SHIB token transfer, the Shiba Inu faces its share of market volatility. However, with the advent of Shibarium and its captivating metaverse projects, the memecoin ecosystem continues to captivate new and experienced fans alike.