A mysterious crypto whale is abruptly relocating trillions of Shiba Inu (SHIB) as the top meme coin gears up for a highly anticipated upgrade.
Blockchain-tracking service Whale Alert reveals that the deep-pocketed crypto investor moved 3,272,307,240,798 SHIB worth $38.87 million at time of transfer, from one wallet of unknown origin to another.
Whale Alert also shows that the Shiba Inu whale paid 0.000725 ETH worth $1.14 in transaction fees.
The sending wallet received over 3.31 trillion SHIB four days ago and currently has zero Shiba Inu balance, according to data from Etherscan. Meanwhile, the receiving wallet is still holding the massive Shiba Inu trove.
Shiba Inu is trading at $0.00001153 at time of writing. The top Dogecoin (DOGE) competitor is up over 42% this year after opening 2023 at $0.00000809. Despite the surge in the last 31 days, SHIB is still down more than 86% from its all-time high, which it recorded in October 2021.
The Shiba Inu community is eagerly awaiting the launch of Shibarium, a layer-2 solution built on the Ethereum (ETH) blockchain. The update aims to improve Ethereum’s scalability, similar to Polygon (MATIC) and Optimism (OP). While one of Shiba Inu’s key developers has hinted that the release of Shibarium is imminent, the project has been tight-lipped on the update’s launch date.
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