Enigmatic Shiba Inu Whale Moves 4.6 Trillion SHIB Amid Shibarium Layer-2 Launch

An enigmatic Shiba Inu (SHIB) investor has swiftly transferred trillions of SHIB tokens in conjunction with the project’s launch of the Shibarium layer-2 scaling solution.

Fresh information provided by the whale-tracking platform Whale Alert has unveiled that a wealthy SHIB holder has promptly relocated an astonishing 4,654,881,590,632 tokens, equivalent to approximately $40.7 million, from an undisclosed wallet to another wallet shrouded in mystery.

This unexpected transfer took place mere hours after the introduction of Shibarium, the eagerly anticipated layer-2 scaling solution for the Shiba Inu project. Nonetheless, the rollout of Shibarium faced challenges due to an overwhelming surge of users and transactions, resulting in certain technical glitches.

Addressing the situation in a recent blog post, the lead developer of SHIB known as Shytoshi Kusama, who maintains pseudonymous status, reassured the community about the well-being of the layer-2 protocol despite the extensive activity. Kusama acknowledged that the SHIB team was taken aback by the level of response.

“Even though we’ve witnessed the Shib Army impacting major exchanges, websites, and various other platforms, this marks the first instance where our decentralized team has truly experienced the immense force of the Shib Army. It’s genuinely mind-boggling…

While we were prepared for a significant surge, the instantaneous traffic exceeded all our expectations.”

As of the current writing, Shiba Inu is valued at $0.000009, reflecting a 10.6% decrease over the past 24 hours. Concurrently, Bone ShibaSwap (BONE), the digital asset designated for covering Shibarium’s gas fees, is trading at $1.22, signifying a 17% decline within the last day.

Read Also: Voyager Sells 1.396 Trillion Shiba Inu (SHIB) on Coinbase Amid Ongoing Bankruptcy Proceedings

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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