Emerging SHIBA INU whale invests $40M as the token’s remarkable ascent continues and as excitement builds for the impending Shibarium launch.
A brand-new whale has captured the limelight by purchasing over $40 million worth of Shiba Inus (SHIB) in a single transaction. The whale has amassed a staggering 4.41 trillion SHIB tokens, propelling them to the 27th among the largest SHIB holders, as disclosed by Etherscan data.
Continued bullish momentum For Shiba INU
Whale Alert has alerted the public to the emergence of this significant SHIB accumulation. This extraordinary occurrence coincides with Shiba Inu’s recent remarkable performance, as the token’s price soared by over 25% in the last month, breaking free from a consolidation phase that lasted until August 4.
This bullish momentum caused SHIB to surpass the psychological resistance level of $0.00001 and reach a four-month high. Santiment, a market intelligence firm, reported that SHIB’s trading volume reached a new six-month high during the past month, which coincided with the stock’s price achieving a remarkable rally.
In a parallel development, the chief creator of Shiba Inu, Shytoshi Kusama, has taken a proactive posture against false information and con games aimed at the memecoin community.
Recent efforts have been made to debunk schemes associated with the imminent release of new tokens within the Shiba Inu ecosystem, such as the misleading claims about the Shibarium campaign. Kusama’s meticulousness warns the community to be vigilant and look out for potential cons.
All Opinions Regarding Shibarium
As interest in Shibarium and its potential effects on the Shiba Inu ecosystem expands, Shiba Inu Token (SHIB) has demonstrated tenacity by increasing by more than 9 percent over the past week. SHIB, currently trading at $0.000009161, is garnering attention as the cryptocurrency community anticipates the potential dawn of a new era that this update may usher in.
Layer 2 of Shibarium’s blockchain is expected to launch later this month, and the “Summer of Shibarium” campaign, which will feature thrilling releases, has stoked market interest in SHIB and related currencies.