A mysterious and unidentified shiba inu Whale bought nearly 4 trillion SHIB worth $50 million on Thursday. The transaction in question was the largest whale transfer recorded for the meme coin in October 2022. Address anonymous received 3,914,263,607,418 Shiba Inu for $42,704,615.
The whale’s identity remains a mystery, and the reason for the major purchase is unknown. However, the whale may have taken an early entry position prior to the release of the Shibarium documents.
Large ETH whales have been buying Shiba Inu since mid-2021, and even in bear markets this year, the trend has not slowed.
Whales and retail investors alike believe SHIB can deliver desired financial results in the long run. This blind faith in the meme coin helps keep SHIB afloat in the markets despite challenging conditions.
Koinfinans.com As we reported, another whale recently received approximately 166 billion SHIB worth $1.79 million.
Additionally, another whale transferred nearly 3.3 trillion meme coins on Wednesday. carried out. The exact reason for the transfer is unknown: it is unknown whether the whale simply moved the tokens or whether it was a sale move.
Shiba Inu: Shibarium and Bone Evolution
Investors may be under pressure to buy SHIB as they are willing to take an early entry position before the launch of the Shibarium layer-2 network.
Shibarium’s management token Bone has outperformed SHIB, up 23% this week, while Shiba Inu is up just 10%.
Bone will have significant use in the Shibarium network. Therefore, both the Shiba Inu and Bone are recovering in hopes of publishing the Shibarium documentation. However, the release date of the Shibarium documentation is unknown.
Unification, the company that built the Layer-2 network, recently confirmed that Shibarium will launch “soon after” Q3 of 2022.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.