BlocksInform
In the world of cryptocurrency, it seems that one of the altcoin is making waves and attracting the attention of the largest whale etherm. That altcoin is none other than Shiba Inu (SHIB).
According to data from WhaleStats, a platform that provides analysis of the top whale wallets on multiple chains, the 5,000 largest Ethereum whales now hold a massive number of SHIB tokens, valued at $708,456,318. This impressive number puts Shib as the biggest other property among the Ethereum whales.
At 9:10 a.m. UTC, February 7, 2023, the following three titles are USDT, USDC and BEST.
As SHIB's interest continues to grow, the number of large whaling transactions involving digital assets continues to grow. For example, this past weekend, a whale anonymously transferred 3,216,307,240,798 shib chips, valued at $47.6 million, into an unknown portfolio.
What is the driving force behind shit's popularity? In part, That's because the project is planning on launching its Layer 2 protocol, shibarium, a layer two blockchain designed to fill gaps in the ethereum host chain of the shib token, Low Speed & High Transaction Cost.
Shibarium will require the use of bone to pay transaction/gas fees and will burn shib each time (thus making shib rarer and potentially increase its value. While the exact launch date remains to be determined, developers are optimistic that a beta release will be forthcoming.
Over the past 30 days, SHIB has outperformed its main rival, Dogecoin (DOGE), up 61% from the 23% increase in DOGE.
At the time of writing, SHIB trades around $0.0000140, down 2.88% over the most recent 24-hour period.
