Top Whales Gather A Tremendous Amount Of Shiba Inu Overnight

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WhaleStats, a major crypto data-providing firm has released important data pertaining to the crypto whales involving Shiba Inu (SHIB).

The data shared by WhaleStats shows that the whales had become extremely active in the past 24-hours in terms of the acquisition of SHIB.

Ethereum Whales were Active

The whales on the Ethereum blockchain were extremely active and into Shiba Inu in the recent trading sessions. This is the reason why they acquired SHIB on a very high scale.

The whales continue purchasing SHIB on a really large scale and kept increasing their holding of the meme coin. The top whales on the Ethereum blockchain have filled up their stashes in the past 24-hours with SHIB.

According to the data shared by WhaleStats, the Ethereum whales reportedly acquired trillions of SHIB in the past 24-hours.

Specific Data from WhaleStats

WhaleStats has revealed that in the past 24-hours, the top whales accumulated $31 million worth of Shiba Inu. It is the second most valued and highly popular meme coin offered in the crypto industry.

Due to the recent acquisition activity, the market capitalization of SHIB has increased significantly. The report shows that the market capitalization of SHIB has increased to $624.92 million.

Prior to the increase, the market capitalization of SHIB stood at a low of $578.49 million.

The SHIB whales have increased their holdings tremendously. Altogether, the Ethereum whales have accumulated over 2.53 trillion SHIB.

Following the recent activity, SHIB has become the third top most-held cryptocurrency by the Ethereum whales.

The Ethereum whales currently have the highest holdings for Ethereum and the second most held cryptocurrency is actually the stablecoin, USDT.

Shibarium Launch is due in February

There is a perfect reason why the Ethereum whales have become so much activity in the 24-hour period accumulating an enormous number of SHIB.

Shibarium is expected to be the layer 2 protocol that Shytoshi Kusama has been developing. Kusama is the lead developer behind the layer 1 protocol, Shiba Inu.

Kusama had revealed that Shibarium would be the expansion of the Shiba Inu protocol. It would extend its capability and give Shiba Inu its own blockchain independence.

This way, Shiba Inu will be able to offer so much more to the users and increase its utility in the market. This would allow the protocol to increase its utility and gain more attraction.

This could eventually push the trading price of SHIB higher in the upcoming days. The Shibarium protocol is to be put in place on February 14 and when it does, the utility for SHIB may surge.

The whales have been paying a very close look at the developments involving the meme coin. They have been gathering as many SHIB as possible to benefit when the time is right.

Comments by Kusama

Kusama recently updated the entire Shiba Inu community revealing that they were in the final steps of completing the development of the layer 2 protocol.

They will have it fully tested by the beginning of February so it can be implemented on February 14. Initially, they will be launching the beta version of the layer 2 protocol.

Their aim would be to fix as many problems as possible with the protocol so it can operate smoothly and without any issues.

Going forward, they will launch the final and complete version of the Shibarium protocol.

Prices of SHIB and BONE Tokens Pumped Up

Just as the lead developer of the layer 2 protocol made the announcement, the cryptocurrency communities rallied to SHIB and BONE tokens.

This is the reason why the trading prices of these tokens were pushed tremendously higher in the recent trading sessions.

The report shows that the trading price of SHIB recorded a 6% surge in a 24-hour window. This pushed the trading price of SHIB to a high of $0.00001211. As for BONE, the trading price of the asset surged to a high of $1.5.


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