In a remarkable transaction that took place at precisely 03:10:11 PM +UTC on August 24, a newly emerged whale wallet acquired a staggering 1,158,659,145,694 SHIB worth about $9.37 million.
According to Etherscan data, the wallet, which currently holds only SHIB, instantly propelled itself to the 52nd position among the largest SHIB token holders worldwide.
Revitalized Interest in Shiba Inu Amid Shibarium Relaunch
The resurgence of interest in Shiba Inu among whale investors coincides with the Shibarium relaunch. This Layer 2 solution has quickly gained traction following a temporary pause triggered by an unexpected surge in user activity.
Notably, Shibarium has already processed an impressive transactions and boasts over 54,000 active wallet addresses, indicating its growing popularity within the community.
Shiba Inu (SHIB) Dominates Social Media Trends
Shiba Inu has captured the attention of cryptocurrency enthusiasts, securing its position as the most talked-about token across various social media platforms.
CoinMarketCap, the leading platform for aggregating crypto-related data, has identified Shiba Inu as the top trending cryptocurrency within the past 24 hours. Similarly, Shiba Inu has become the most searched coin on KuCoin, the fifth-largest cryptocurrency exchange by trading volume.
The list of Trending Tokens changes daily on #CMCCommunity 🔥 Here's what is hot today:$SHIB$SBF$EOS$AST$NEAR
Make sure you're caught up: https://t.co/vHI1wrzF17 pic.twitter.com/kZ88oeXlBX
— CoinMarketCap (@CoinMarketCap) August 24, 2023
Mild Bearish Pressure on Shiba Inu (SHIB)
Despite its increased popularity and recent developments, Shiba Inu is still struggling to replicate its usual bullish momentum. At the time of writing, SHIB is trading at $0.000008199, indicating a relatively 2% price increase in the past day.
Although the recent whale acquisitions and the success of the Shibarium Network have generated excitement within the Shiba Inu community, it remains to be seen how these developments will impact the future trajectory of the token’s value.
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