Often known as the “Dogecoin killer” in the cryptocurrency market Shiba Inu (SHIB) attracted attention with a significant increase in its price. This increase coincided with a significant transfer of 3 trillion SHIB tokens by a whale. This transfer caused speculation and questions about SHIB’s future direction.
Shiba Inu Price Rises Following Great Whale Transaction
The SHIB community is abuzz with speculation following a significant transfer of 3 trillion SHIB tokens worth approximately $79.94 million. The transaction flagged by Whale Alert involves the movement of SHIB between two unidentified wallets.
Meanwhile, looking closely at the transaction, wallet address “0x73a…4d935” shifted 3 trillion Shiba Inu to another unknown wallet “0x2ef….2e204” today. Notably, the last one, or the recipient, is among the top 100 richest Shiba Inu addresses. This is the reasons behind the transfer and its meme coinIt further intensified the discussions regarding its potential effects on the price trajectory.
However, as market participants examine the implications of the whale transfer, attention is also turning to recent developments in the Shiba Inu ecosystem. Shytoshi Kusama, the leader behind Shiba Inu, recently announced $12 million in funding through TREAT for the development of the Layer-3 blockchain.
This milestone underscores the Shiba Inu’s commitment to advancing benefits and use cases within its ecosystem and TREATIt positions it as a very important component in ensuring the growth and sustainability of the ecosystem.
Optimism prevails amid TREAT’s rising popularity
The launch of ecosystem reward coin TREAT represents a significant breakthrough for the SHIB community. With its dual functionality as both a governance and gas coin on the layer-3 blockchain, TREAT has tangible value for participants.
Meanwhile, Shiba Inu marketing lead Lucie recently highlighted TREAT’s role in encouraging SHIB owners to actively contribute to ecosystem growth while gaining rewards and governance opportunities. This strategic integration reinforces the collaborative nature of the Shiba Inu ecosystem and offers a glimpse into the potential for continued innovation and expansion.
Notably, the SHIB price increased by 3.09% to $0.00002726 at the time of writing, while the trading volume in the last 24 hours increased by 18.60% to $751.73 million. Notably, the leading meme coin has gained approximately 20% in value in the last seven days, while SHIB price has lost approximately 3% in value in the last 30 days.
