{"id":549920,"date":"2023-09-04T17:30:20","date_gmt":"2023-09-04T17:30:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=549920"},"modified":"2024-06-11T07:51:23","modified_gmt":"2024-06-11T07:51:23","slug":"shiba-inu-whales-shibarium","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-whales-shibarium\/","title":{"rendered":"Shiba Inu Whales Begin Accumulation As Shibarium Grows"},"content":{"rendered":"

The success of the Shibarium blockchain<\/a> so far has led to Shiba Inu whale activity rising once more. These whales have been making large transfers carrying trillions of SHIB tokens worth tens of millions of dollars. This heightened activity, while interesting on its own, is also leading to positive sentiment around them due to their destinations.<\/p>\n

Shiba Inu Whales Moving Away From Centralized Exchanges<\/h2>\n

A number of large Shiba Inu transactions were highlighted by the popular whale tracking account on X (formerly Twitter) called Whale Alert. The first transaction took place on Saturday, September 2, a couple of days after the Shibarium blockchain went public and started growing.<\/p>\n

Related Reading: Pro-XRP Legal Expert Takes The Spotlight With Daring Ripple Vs SEC Settlement Theory<\/a><\/div>\n

The transaction saw a total of 4.36 trillion SHIB tokens<\/a> moved from the Bitvavo exchange to an unknown wallet. This transaction was worth roughly $37 million at the time and was speculated to be moved to a private wallet for holding.<\/p>\n

\n

\ud83d\udea8 \ud83d\udea8 4,630,530,677,374 #SHIB<\/a> (36,696,955 USD) transferred from #Bitvavo<\/a> to unknown wallethttps:\/\/t.co\/XWDOaPcc0G<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) September 2, 2023<\/a><\/p><\/blockquote>\n

This is because when crypto users move tokens toward centralized exchanges, it is often to sell due to the deep liquidity. While moving tokens from centralized exchanges to private wallets is often for holding while investors wait for the market to recover.<\/p>\n

Another similar transaction was then flagged on Monday, September 4, carrying almost the same number of SHIB. The 4.615 trillion SHIB worth $35.69 million was also moved from the Bitvavo exchange to an unknown wallet, presumably for safekeeping.<\/p>\n

\n

\ud83d\udea8 \ud83d\udea8 4,615,530,677,374 #SHIB<\/a> (35,694,206 USD) transferred from #Bitvavo<\/a> to unknown wallethttps:\/\/t.co\/ZtTK0oWWWn<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) September 4, 2023<\/a><\/p><\/blockquote>\n

These transactions could signal that the whales<\/a> are expecting the Shibarium network to grow and positively affect the price of SHIB. The meme token is already showing signs of this recovery its trading volume rose 14% in the last day.<\/p>\n

Shibarium Continues To Grow<\/h2>\n

Shibarium was launched in late August but despite an initial rocky start, the network seems to have taken it in stride and bounced back stronger<\/a>. The activity on the network saw its Total Value Locked (TVL) quickly surpass $1 million.<\/p>\n

\"Shibarium<\/p>\n

TVL crosses $1 million | Source DeFiLlama<\/a><\/pre>\n
This was brought about by high activity in decentralized finance (DeFi) protocols such as DogSwap and MARSWAP. The former currently boasts over 50% of Shibarium\u2019s TVL with the latter not too far behind at 26%.<\/p>\n
Related Reading: Shiba Inu Marketing Lead Sends Important Message To SHIB Holders<\/a><\/div>\n
The network has also crossed the 1 million wallet market in addition to transactions on the blockchain reaching the same figure. However, the TVL has taken a hit to fall from the $1.42 million figure recorded on August 30<\/a> to be sitting at $1.05 million at the time of this writing.<\/p>\n
While the figures may be slowing for Shibarium, it may not mean a total lack of interest. Shibarium was launched in a deep bear market climate, which is one factor that could now be limiting its growth as prices fall.<\/p>\n
\"Shiba<\/p>\n
SHIB price shows high volatility | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The success of the Shibarium blockchain so far has led to Shiba Inu whale activity rising once more. These whales have been making large transfers carrying trillions of SHIB tokens worth tens of millions of dollars. This heightened activity, while interesting on its own, is also leading to positive sentiment around them due to their destinations. Shiba Inu Whales Moving Away From Centralized Exchanges A number of large Shiba Inu transactions were highlighted by the popular whale tracking account on X (formerly Twitter) called Whale Alert. The first transaction took place on Saturday, September 2, a couple of days after the Shibarium blockchain went public and started growing. Related Reading: Pro-XRP Legal Expert Takes The Spotlight With Daring Ripple Vs SEC Settlement Theory The transaction saw a total of 4.36 trillion SHIB tokens moved from the Bitvavo exchange to an unknown wallet. This transaction was worth roughly $37 million at the time and was speculated to be moved to a private wallet for holding. \ud83d\udea8 \ud83d\udea8 4,630,530,677,374 #SHIB (36,696,955 USD) transferred from #Bitvavo to unknown wallethttps:\/\/t.co\/XWDOaPcc0G \u2014 Whale Alert (@whale_alert) September 2, 2023 This is because when crypto users move tokens toward centralized exchanges, it is often to sell due to the deep liquidity. While moving tokens from centralized exchanges to private wallets is often for holding while investors wait for the market to recover. Another similar transaction was then flagged on Monday, September 4, carrying almost the same number of SHIB. The 4.615 trillion SHIB worth $35.69 million was also moved from the Bitvavo exchange to an unknown wallet, presumably for safekeeping. \ud83d\udea8 \ud83d\udea8 4,615,530,677,374 #SHIB (35,694,206 USD) transferred from #Bitvavo to unknown wallethttps:\/\/t.co\/ZtTK0oWWWn \u2014 Whale Alert (@whale_alert) September 4, 2023 These transactions could signal that the whales are expecting the Shibarium network to grow and positively affect the price of SHIB. The meme token is already showing signs of this recovery its trading volume rose 14% in the last day. Shibarium Continues To Grow Shibarium was launched in late August but despite an initial rocky start, the network seems to have taken it in stride and bounced back stronger. The activity on the network saw its Total Value Locked (TVL) quickly surpass $1 million. TVL crosses $1 million | Source DeFiLlama This was brought about by high activity in decentralized finance (DeFi) protocols such as DogSwap and MARSWAP. The former currently boasts over 50% of Shibarium\u2019s TVL with the latter not too far behind at 26%. Related Reading: Shiba Inu Marketing Lead Sends Important Message To SHIB Holders The network has also crossed the 1 million wallet market in addition to transactions on the blockchain reaching the same figure. However, the TVL has taken a hit to fall from the $1.42 million figure recorded on August 30 to be sitting at $1.05 million at the time of this writing. While the figures may be slowing for Shibarium, it may not mean a total lack of interest. Shibarium was launched in a deep bear market climate, which is one factor that could now be limiting its growth as prices fall. SHIB price shows high volatility | Source: SHIBUSD on Tradingview.com Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":549940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,83667,89157,86781,87680,89267,89179,84562,84558,14781],"class_list":["post-549920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-whales","tag-shibarium","tag-shibarium-network","tag-shibarium-news","tag-shibusd","tag-shibusdt","tag-whales"],"acf":[],"yoast_head":"\nShiba Inu Whales Begin Accumulation As Shibarium Grows<\/title>\n<meta name=\"description\" content=\"These whales have been making large transfers carrying trillions of Shiba Inu tokens 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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