Shiba Inu (SHIB), the meme-inspired cryptocurrency that gained popularity due to the rise of Dogecoin, has recently been making headlines once again. This time, it’s because of a massive purchase made by a whale investor who acquired 200 billion SHIB tokens, worth over $2.2 million USD at the time of purchase.
The purchase was made as the founder of SHIB, known as “Shytoshi Kusama,” has been focusing on the development of SHIB’s own decentralized exchange, called Shibarium. This exchange will allow users to trade SHIB and other cryptocurrencies without the need for a centralized authority, providing greater security and transparency for traders.
The purchase by the whale investor has caused some concern among the SHIB community, as it represents a significant portion of the total supply of SHIB tokens. However, it’s important to note that this whale investor is not the only holder of a large amount of SHIB tokens. In fact, the top 10 holders of SHIB tokens own over 50% of the total supply.
SHIB is one of the top meme coins held by Ethereum whales as per the What statistics followed by MATIC(Polygon)
Despite the concerns over the concentration of SHIB tokens among a small group of holders, the SHIB community remains optimistic about the future of the cryptocurrency. The launch of Shibarium is expected to be a major milestone for SHIB, as it will provide a platform for the trading of SHIB and other cryptocurrencies in a decentralized manner.
The recent purchase of 200 billion SHIB tokens by a whale investor is a clear sign of the growing interest in SHIB and the potential for its continued success in the cryptocurrency market. With the launch of Shibarium on the horizon, it will be interesting to see how SHIB continues to evolve and grow in the coming months and years.
Image Source
Suggested Reading –
- Shiba Inu Aims to be Top Dog with Shibarium
- Revolutionizing the Future of Crypto: Shiba Inu’s Shibarium Set to Transform Ethereum Network!
You may be also interested to read more about
- SEC Cracks Down on Binance.US for Operating as Unregistered Securities Exchange: Will Cryptocurrency Survive Regulatory Onslaught?
- Binance Braces for Potential Fines from US Regulators
- Silvergate – Cryptocurrency-focused Bank is in a Pickle
- Why is Dubai an Attractive Crypto Oasis?
- Hong Kong plans to make crypto purchase and trading legal for all of its citizens
- Crypto Industry is Under Siege by Regulators
- Empowering Crypto Investors: Binance Joins Forces with Law Enforcement in Powerful Anti-Scam Campaign
Subscribe To Our Newsletter
Join our mailing list to receive the latest news and updates from our team.