Shiba Inu Sees Whales Accumulating as Shibarium Grows

In the fast-paced world of cryptocurrencies, Shiba Inu is making waves yet again. On September 13, there was a significant movement of trillions of SHIB tokens, orchestrated by whales and large holders. Data from IntoTheBlock reveals that a staggering 2.41 trillion SHIB tokens changed hands in transactions exceeding $100,000 in this timeframe.

This sudden surge in large transaction volumes hints at something big on the horizon for Shiba Inu. After enduring weeks of decline, the Shiba Inu price is now poised for its next big move. Observers speculate that Shiba Inu’s whales, or large holders, are strategically accumulating tokens, and a surge in large holders’ netflow over the past seven days further supports this theory.

The Large Holders Netflow metric, tracked by IntoTheBlock, offers valuable insights into the actions of major players in the Shiba Inu ecosystem—whales and investors holding over 0.1% of the supply. When netflow spikes, it suggests accumulation by these large holders, whereas dips indicate reduced positions or selling activity. In the last week alone, Shiba Inu has witnessed an impressive 275% surge in large-holder netflows.

Image Source: IntoTheBlock (thebittimes)

Shibarium Expanding Rapidly

In other news, the Shiba Inu ecosystem continues to expand with the rapid growth of the Shibarium Layer-2 blockchain. This week, Shibarium celebrated a significant milestone, surpassing two million transactions. It achieved an all-time high in daily transfers and welcomed approximately one hundred thousand new wallet addresses.

As of today, the total transaction count on Shibarium stands at an impressive 2,450,718. Earlier this week, the platform reached a peak of over 202,000 daily transactions. Simultaneously, the number of linked wallet addresses has surged to a total of 1,245,736—a testament to the growing interest and engagement within the Shiba Inu community.

Source: Shibariumscan

However, amid these exciting developments, Shiba Inu’s marketing strategist, Lucie, issued a crucial announcement. Lucie confirmed that the highly anticipated TREAT token is still in the development phase and has not been launched. She cautioned the community to remain vigilant against bad actors and fraudulent claims that the token was live for trading.

Source: X

This warning is particularly important given recent posts within the crypto community falsely suggesting that the Shiba Inu team has already launched TREAT. The Shiba Inu team has consistently clarified that TREAT is not yet ready for launch, making it clear that any token bearing the TREAT ticker on the market is an imposter.

The TREAT token, once launched, is set to play a pivotal role in the Shiba Inu ecosystem by incentivizing active engagement and maintaining liquidity for the SHI stablecoin.

SHIB in Recovery 

Amid its positive on-chain standing, the price of SHIB appears to be in rebound mode as it marks its second consecutive bullish day on September 13. The recent upward move comes just after the meme token fell to its lowest point since June 18 at $0.00000695.

SHIB/USD Daily Chart from TradingView

It remains to be seen if this recovery will be sustained for longer but it’s a welcome development for bulls and the SHIB Army. Though a slight distance away, the primary target for bulls right now is the $0.00000900 mark.

SHIB Statistics Data

Current Price of SHIB: $0.00000726

SHIB Market Cap: $4.28B

SHIB Circulating Supply: 589T

Total Supply: 589T

SHIB Market Ranking: #16

Get accurate, winning trading signals:  

Best crypto trading bot:

Personal Note From MEXC Team

Check out our MEXC trading page and find out what we have to offer! There are also a ton of interesting articles to get you up to speed with the crypto world. Lastly, join our MEXC Creators project and share your opinion about everything crypto! Happy trading! Learn about interoperability now!

Join MEXC and Start Trading Today!