Shiba

Impact

Shiba Inu

Trillion

<div class="watcher-guru">
 <p>The Shiba Inu meme coin, popularly known as SHIB, has once again captured the attention of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency community. Recent reports from the well-known <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency tracker, Whale Alert, disclose a substantial exchange of 8.4 trillion SHIB, amounting to nearly $100 million in fiat currency. This significant event aligns with a noteworthy milestone for the SHIB ecosystem – the Shibarium network achieving a significant utility milestone within a single day.</p>
 <h4 class="wp-block-heading" id="h-whale-movements-impact-the-shib-market">Whale Movements Impact the SHIB Market</h4>
 <p>The blockchain tracking service, Whale Alert, detected two substantial SHIB transactions involving anonymous wallets. In each transaction, an astounding 4,239,147,213,294 SHIB were transferred. Data from the IntoTheBlock analytics aggregator initially indicated a 266% surge in whale activity in the last 24 hours. Further investigation revealed that this surge resulted from the same amount of SHIB being transferred twice. Initially moving to an anonymous wallet (-8b51b), the funds were subsequently forwarded to another destination.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">🚨 🚨 4,239,147,213,294 #SHIB (45,129,961 USD) transferred from unknown wallet to unknown wallethttps://t.co/u1UExMEYql</p>
    <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
     <div class="publift-ad add">
      <div data-fuse="22560828227"></div>
     </div>
    </div> — Whale Alert (@whale_alert) December 25, 2023
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="h-impressive-growth-of-shibarium">Impressive Growth of Shibarium</h2>
 <p>Concurrently, the Shibarium network exhibited remarkable growth in its transaction count, reaching 191 million. This highlights the heightened activity on the network. Additionally, daily transactions rebounded to 7.5 million, a significant recovery from the previous week’s low of 5 million transactions.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="401" src="https://cdn.thebittimes.com/images/2023/12/27/74e14e8652e3a602103250feaf33ff31.webp" alt class="wp-image-122723" srcset="https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 1024w, https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 300w, https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 768w, https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 380w, https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 550w, https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 800w, https://thebittimes.com/image/getimage/?url=https://watcher.guru/news/wp-content/uploads/2023/12/Screenshot-2023-12-26-at-11.40.32 AM-1024x401.png 1138w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source
  </figcaption>
 </figure>
 <p><strong>Also Read: Shiba Inu: Top 50 Wallets That Own Trillions of SHIB Tokens Revealed</strong></p>
 <h4 class="wp-block-heading" id="h-eager-anticipation-for-the-upgrade">Eager Anticipation for the Upgrade</h4>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p>Amid these developments, the Shiba Inu community eagerly awaits a significant upgrade announced by the SHIB team in early December. The Shibarium testnet, known as Puppynet, is poised to transition from Ethereum’s Goerli network to Sepolia, operating on the second-largest blockchain. This transition aims to enhance Shibarium’s scalability, reduce transaction fees, and expedite transfers. Lower transaction fees and faster transfers will facilitate more substantial burns. It further relies on gas fees paid in BONE tokens by Shibarium users.</p>
 <h4 class="wp-block-heading" id="h-automated-shib-burns-on-the-horizon">Automated SHIB Burns on the Horizon</h4>
 <p>With the anticipated upgrade scheduled for January, SHIB burns will undergo a transformative shift from manual execution by the SHIB development team to automated mode. This transition follows the removal of over 33 billion SHIB from circulation in November and December through four significant transactions. As the community embraces these advancements, the Shibarium network is poised for enhanced efficiency and scalability, reaffirming its position in the dynamic world of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency.</p>
 <p><strong>Also Read: Shiba Inu Forecasted To Reach 1 Cent, Here’s When</strong></p>
 <p>The recent exchange of 8.4 trillion SHIB coins and the impressive growth of the Shibarium network underscores the dynamic nature of the Shiba Inu ecosystem. As the community eagerly anticipates the forthcoming upgrade and the shift to automated SHIB burns, the future appears promising for SHIB enthusiasts and investors alike.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>crypto</li>
  <li>cryptocurrency</li>
  <li>shib</li>
  <li>shiba inu</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-8-4-trillion-shib-tokens-move-amidst-price-drop-tbt74832.html">https://thebittimes.com/shiba-inu-8-4-trillion-shib-tokens-move-amidst-price-drop-tbt74832.html</a></p>

Shiba Inu: 8.4 Trillion SHIB Tokens Move Amidst Price Drop

Table of Contents

TheBitTimes

Other articles published on Dec 27, 2023

Signs of an Upcoming Bitcoin Price Increase, According to Veteran Investor

From Thousands to Millions: Winning Coins for the Crypto Boom

Maker Price (MKR) Forecast: Is $1600 Mark Achievable by Jan 2024?

Watch Out: Crypto Thieves Will Deploy More Convincing AI Scams In 2024

Bitcoin Cash Price: Will Bulls Win Battle in the Range?

Just-In: Sam Altman’s Worldcoin Launches Orb Verification In Singapore

Join our free newsletter for daily crypto updates!