Whale Alert: 4.6 Trillion SHIB Tokens Worth $38.35M Moved

• There may be a connection to the Shibarium validator.
• Similar SHIB transfers and purchases to “0x95B5” have been seen for over a month.

On Tuesday, whale monitoring service Whale Alert revealed that a whale had transferred 4.6 trillion SHIB tokens worth around $38.35M from an unknown wallet to another unknown wallet. After lead developer Shytoshi Kusama launched the long-awaited L2 Shibarium mainnet last week, the chain saw an enormous load and entered fail-safe mode.

After two days of testing and fine-tuning settings, Shibarium is almost ready to reopen to the public, as revealed by Shytoshi Kusama today. It has been upgraded with a new monitoring system and other fail-safe mechanisms, such as rate limitation on the RPC level and an automatic server reset.

Connection to Shibarium Validator

Furthermore, new validators are coming online on the network, boosting security and opening the door for greater BONE token staking. According to an examination of recent Etherscan transactions, almost 4.6 trillion SHIB tokens have recently been transferred between accounts that are either connected or conducted by the same person.

4,627,778,173,637 #SHIB (36,952,808 USD) transferred from unknown wallet to unknown wallethttps://t.co/Q61yBD92n6

— Whale Alert (@whale_alert) August 22, 2023

Similar SHIB transfers and purchases to “0x95B5” have been seen for over a month. There may also be a connection to the Shibarium validator if the transaction involves a token for the mainnet validator. A minimum of 10,000 BONE tokens must be locked in order for a user to qualify as a validator.

As the Shiba Inu development team continues to test and analyze the Shibarium chain, the price of Shiba Inu and Bone ShibaSwap fluctuates widely. At the time of writing SHIB is trading at $0.000007919 and is down 0.42% in the last 24 hours as per data from CMC.

Highlighted Crypto News Today:

Hedera Shines With Updates & Partnerships Amidst Market Downturn