The newly-emerged Whale acquired $9.37 million worth of Shiba Inu (SHIB) following the relaunch of Shibarium Network.
Etherscan.io data revealed that a newly born Whale bought 1,158,659,145,694 (1.15 trillion) SHIB, valued at $9,350,379 ($9.37 million), from an enigmatic wallet in one significant transaction. The colossal move occurred precisely at 03:10:11 PM +UTC on August 24.
This massive accumulation has catapulted the mysterious wallet to the 52nd spot among the largest Shiba Inu token holders globally.
The development comes shortly after another wallet acquired 708,416,119,061 (708.41 billion) Shiba Inu tokens worth $5,991,429 ($5.99 million) from Gemini, a New York-based cryptocurrency exchange.
Current stats on this new wallet show that the address holds only Shiba Inu and no other coin.
The Whales’ interest in Shiba Inu revived following the relaunch of the Shibarium network. As reported earlier by The Crypto Basic, Shibarium has resumed full-scale block production following a brief hiatus triggered by an unanticipated influx of users.
Shibarium – Layer 2 Solution has gained significant traction within a few hours of launch. The latest data from Shibariumscan, the blockchain explorer of Shibarium, reveals that the network has processed 115,472 transactions and boasts 47,369 active wallet addresses.
Bone ShibaSwap (BONE), the native gas token of Shibarium, benefitted the most from Shibarium relaunch. The BONE price skyrockets 11% to $1.39 in the past 24 hours.
The relaunch of Shibarium has led Shiba Inu to become the most talked-about token all across social media platforms. CoinMarketCap, the world’s leading crypto data aggregation platform, has recognized Shiba Inu as the top trending cryptocurrency in the past 24 hours.
— CoinMarketCap (@CoinMarketCap) August 24, 2023
In addition, Shiba Inu emerged as the top coin by weekly search popularity on KuCoin, the fifth biggest cryptocurrency exchange (in terms of trading volume).
Top 5 Coins by Weekly Search Popularity on #KuCoin (August 24, 2023)
— KuCoin (@kucoincom) August 24, 2023
However, Shiba Inu is still under mild bearish pressure. As of press time, SHIB is trading at $0.000008075, down -3.10% over the last day, with a 24-hour trading volume of $151,951,019 ($151.95 million).