Shiba Inu Whales Take Action After Shibarium!

The Shiba Inu (SHIB) lead developer, known by the alias Shytoshi Kusama, shared that there has been remarkable progress in scaling Shibarium, the cryptocurrency’s layer-2 blockchain. The community has been eagerly awaiting updates after Shibarium’s initial challenges at its launch on August 15. Despite the obstacles, there have been significant developments set to reshape the future of the Shiba Inu’s ecosystem.

Shibarium scaling advanced

Shytoshi Kusama briefed on ongoing efforts to address the scaling issues that plagued Shibarium during its initial launch. In a blog post, Kusama acknowledged that the previous reboot of the layer-2 solution was for temporary testing purposes. But he told the community that this phase is over and the SHIB team is now focused on scaling the solution in various ways, with a strong commitment to thorough testing and transparency.

A crucial partnership has emerged in the scale-up effort as Kusama announced that the Alchemy team has played a pivotal role in expanding Shibarium’s operations. Known for their expertise in the Web3 developer platform, the Alchemy team managed to scale operations with validators, resulting in an impressive 1,500% increase in capacity.

New protocols will open

One of the main challenges Shibarium faced post-launch was an unexpected traffic spike that caused technical issues. Kusama explained that in order to effectively manage this issue, the SHIB team has learned about the expected traffic volume. As a strategic response, they commissioned a group of distributed ledger technology (DLT) experts to develop new protocols aimed at supporting and addressing the expected traffic flow efficiently. Kusama’s post highlighted the community’s role in defending Shibarium against FUD (fear, uncertainty, doubt) as the developers diligently work to improve the platform’s scalability. He expressed his gratitude to the SHIB military for their unwavering support during this difficult period.

Shiba Inu whales in action

Amid continued developments, significant whale movements have occurred in the Shiba Inu ecosystem. Whale addresses, which hold significant amounts of SHIB tokens, conducted a series of transactions involving large amounts of cryptocurrencies. Data compiled through the Spot On Chain platform revealed that a staggering $131.57 million was transferred by whale addresses in a matter of days. These actions have raised eyebrows in the community as they coincided with concerns about Shibarium’s initial launch and subsequent technical issues.

In particular, transactions were only conducted between whale addresses, and no interaction was observed between centralized exchanges (CEX) and unknown addresses. Both victories and trials marked the Shiba Inu’s journey. Recent developments in scaling Shibarium and strategic efforts to address traffic issues underscore the SHIB team’s commitment to delivering a robust and resilient ecosystem. The involvement of key partners such as the Alchemy team further strengthens the foundation of the project.