The movements of the whales today do not seem to end. They have carried a significant amount of altcoins today. The altcoin they carry is Shiba Inu. Let’s take a look at the details of the news.
Day of action for altcoin Shiba Inu
A surprising amount of altcoin Shiba Inu has been transferred to major global exchange Huobi. While the launch of Shibarium was delayed, the whale transferred approximately 280 billion SHIB to Huobi. According to data from Etherscan, in the last few hours, approximately 280 billion Shiba Inu have gone to Huobi. Probably whales will sell these tokens. As is known, such a situation is a negative situation for the price. The dollar value of the sent tokens is $2,360,220. Meanwhile, a key member of the Shiba Inu team has shared new data on the possible dates of the Shibarium launch. Accordingly, the launch may take place later than the initial announcement.
A wallet ending in 60dda12e transferred a staggering 278 billion SHIB to a “Huobi 30” wallet a little over three hours ago. Currently, there are 1,148,355,556,531 SHIBs in the wallet. The list of previous transactions from this address points to a similar move 192 days ago. At that time, 300,000,000,000 altcoins SHIB were sent to the Huobi exchange. As a result, the same wallet sent a total of approximately 600 billion Shiba Inu to Huobi to sell.
There are other transactions
Etherscan also shared data on nearly a dozen other transactions that carried 25.3 billion SHIB in chunks of 2 billion and 1 billion altcoin Shiba Inu coins each. Many of these tokens were transferred to the Binance exchange.
As Cryptokoin.com, as we have mentioned before, 36.5 billion SHIB were moved in a single hour yesterday. Some of these manifest themselves as the act of purchasing. On the other hand, some of them were sold on OKX. In addition, Crypto.com and KuCoin exchanges are among the questions that whales are selling. .
Delayed release of Shibarium?
The official content marketing expert of the altcoin SHIB team, @LucieSHIB, tweeted that the launch of Layer-2 network Shibarium could happen in Q3 this year. Its prospect here is based on data shared by a SHIB developer, Shibarium1.
In the same tweet, Lucie emphasizes that initially this developer specified August as the month when Shibarium will be available. He shared that the head of the dev team, using the alias Shytoshi Kusama, said that the launch will likely take place in July. However, things seem to have changed now. Lucie noted to the community that there are several teams working on Shibarium. She even reminded that they are planning to integrate artificial intelligence into the Layer-2 network.
Community altcoin commitment continues
The Altcoin Shiba Inu Community is burning millions of tokens daily. This demonstrates the unwavering determination to reduce the massive supply of SHIB. The community has sent 40,877,932 SHIBs to the dead wallet in twelve separate transactions in the last 24 hours.
However, the latest developments did not have any positive effect on the price of the Shiba Inu. At the time of writing, SHIB is trading at $0.000008436, down 0.22% in the past day. Will the price of the token return to its old days?
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