A mysterious Shiba Inu (SHIB) whale suddenly displaces trillions of SHIB as the project launches its new layer-2 scaling solution, Shibarium.
New data from whale research platform Whale Alert reveals that a SHIB investor with deep pockets abruptly moved a whopping 4,654,881,590,632 tokens, worth approximately $40.7 million, from one unknown wallet to another unknown wallet.
The sudden handover happened just a day after the Shiba Inu team launched Shibarium, the project’s highly anticipated layer-2 scale solution. However, the launch of Shibarium was not without problems, as it received a “massive influx” of users and transactions during its release, causing technical difficulties.
In a new blog post, pseudonymous lead SHIB developer Shytoshi Kusama say that “everything is fine” with the layer-2 protocol despite the deluge of activity, adding that the SHIB team never expected such a result.
‘We have seen [the] Shib Army is taking down major exchanges, websites and other things. For the first time, our decentralized team has fully felt the power of the Shib army. It’s really crazy…
Although we expected a very busy moment, we never immediately expected THAT much traffic.”
Shiba Inu is trading at $0.000009 at the time of writing, down 10.6% in the past 24 hours, while Bone ShibaSwap (BONE), the digital asset used to pay for Shibarium’s gas costs, is trading at at the time of writing for $1.22 moves, a 17% decline on the last day.
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Featured image: Shutterstock/Andi syaputra/LongQuattro