Prior to the expected Shibarium debut, Ethereum whales are accumulating Shiba Inu. This week, according to Whalestats, the meme cryptocurrency was among the top 10 most acquired tokens among the 2,000 biggest Ethereum investors.
The much-expected Shibarium is feeding the whales’ intense hunger. This layer-2 platform is anticipated to enhance Shiba Inu’s performance. Shibarium might be released shortly, according to the ecosystem’s principal developer Shytoshi Kusama, who made a similar comment saying, “I like meeting with the UnificationUND team to discuss Shibarium.”
Ethereum is used by Shiba Inu, despite its slow transactions and expensive gas prices. However, It anticipates that to alter inside the layer-2 solution. Shibarium will offload the majority of Ethereum’s transactions while retaining the blockchain’s security layer.
Among the five main tokens in the Shiba Inu ecosystem, the attitude has been the most favourable toward BONE, a governance and utility token. According to statistics from CoinGecko, the digital asset with a maximum supply of 230,000,000 tokens has increased by 10% during the previous week. During the same time, SHIB fell by 0.36 percent.
LEASH and TREAT are set to play important roles in the next Shibarium. Both tokens may be staked in Shiba Inu liquidity pools for prizes. Utility stablecoin SHI is also part of the strategy. The Shibarium developers have also included a token-burning mechanism to reduce the SHIB supply.
The most recent statistics from the Shiba Inu burn tracker, Shibburn, indicates that 410,384,382,996,444 SHIB had been burnt to date as of the time these lines were written. The dog-themed token was issued with an initial amount of one quadrillion tokens, of which 562,850,341,247,185 are now in circulation.
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.