Cetoex News – Etherscan has revealed new data that shows Shiba Inu (SHIB) whales and various wallets have moved almost 40 billion from various cryptocurrency exchanges. Moreover, the Shibarium network has continued to grow, reaching a host of new milestones. 

Shiba Inu whales were at work today, as Etherscan noted a plethora of transactions that occurred in just an hour. Moreover, the six transfers saw transactions of 6 billion SHIB on the move. The smaller transaction contained 1.5 billion SHIB, with the largest moving 9 billion of the meme coin. 

40 Billion SHIB on the Move? 

According to data from Etherscan, Shiba Inu whales had moved more than 40 billion SHIB in only an hour. Moreover, among the billions of meme coins that were on the move, 13 billion were purchased, and subsequently withdrawn from the Crypto.com exchange. 

Additionally, 1.5 billion was acquired on KuCoin, then withdrawn and sent to a cold wallet. Moreover, 6.1 billion Shiba Inu coins were then transferred to a Binance wallet, with 6.5 billion on the move from the OKX exchange. These assets are likely to be sold. 

In total, the 36.5 billion SHIB equates to a total of $316,090, according to the current price of the asset. Moreover, there seem to be no indicators as to why the funds were being purchased and transferred. Yet, it arrives as Shibarium continues to reach new milestones.

Shibarium Hits New Milestones

The highly anticipated layer 2 network Shibarium, has continued to reach milestones on its Puppynet. Moreover, these developments show that the utility of the ecosystem has continued to expand.

Specifically, the total number of transactions that take place on Puppynet has exceeded 11.5 million. Additionally, the number of crypto wallets engaging on the test net is nearing the 16 million mark. 

These developments show the health of the Shiba Inu ecosystem, which should be undeniably encouraging. Moreover, with updates arriving in the near future, the meme coin’s community should be ecstatic about what’s to come from the project. 

NEWS BY – CETOEX NEWS

Cetoex News – Shiba Inu whales have purchased 33.4 billion SHIB in only 30 minutes, according to data released by Etherscan. Additionally, the anonymous Shiba Inu holders have acquired mass amounts of the meme coin following similar actions taken in the last few weeks.

The acquisition of the meme coin is likely a purchase or redistribution of the asset. Conversely, about a third of the purchases made by the SHIB whales in question were transferred to the Binance exchange, according to the same data. 

SHIB Whales Continue Buying Spree

The largest holders of one of the most prominent meme coins on the market have continued to spend big. Specifically, it has been reported that Shiba Inu whales have acquired 33.4 billion SHIB in just 30 minutes.

The transactions reported show a massive spending spree from various anonymous wallets. Moreover, two of the largest transactions saw the acquisition of more than 11 billion SHIB. Subsequently, the second-largest transfer of the assets contained more than 7 billion SHIB. Finally, the three following transfers contained 12 billion SHIB each. 

Shiba Inu has seen its price struggle in recent weeks. Currently, the meme coin is down 1.02% over the last 24 hours and trading at a price of $0.00000985. Conversely, it appears as though whales were in a rush to collect as much of the assets as possible while they were trading at a lower price. 

Over the course of the last week, the asset has seen its price diminish by 6.90%. Subsequently, the decline coincided with the success of meme coin newcomers like Pepe Coin. Alternatively, the burn rate for the asset has continued to trend upward, with the last 24 hours seeing more than 2,254,093,318 burned.

However, it will be interesting to observe how the price of the asset continues to move amidst newfound competition. Still, the Shiba Inu ecosystem supports a growing utility that not many meme coins can share. Additionally, their community has remained active and present to hold fast to the asset price. 

NEWS BY – CETOEX NEWS