Whales are actively trading meme coin Shiba Inu (SHIB) and BONE tokens after the Shibarium was relaunched recently. Shiba Inu lead developer Shytoshi Kusama promises to scale Shibarium by 1500% and improve its security and utility. A whale has moved 4.6 trillion SHIB tokens again, will SHIB and BONE price recover from the recent dip?
Whale Alert on September 4 reported that 4.61 trillion Shiba Inu (SHIB) worth $35 million were moved by a whale from crypto exchange Bitvavo. An unknown wallet moving trillions of SHIB sparks excitement in the community.
Some believe it’s time to buy SHIB as whale activity indicates an upcoming bullish movement in prices. SHIB and BONE prices tanked 10% and 35%, respectively, last month after the Shibarium mainnet launch saw issues.
This is the same whale that has been moving 4.6 trillion SHIB for over a month, as per an analysis of recent transactions on Etherscan. CoinGape Media recently reported similar SHIB transactions. Also, the presence of a Shibarium mainnet validator token transaction indicates that it could be related to the Shibarium validator. In order to become a validator, a user must lock at least 10,000 BONE tokens.
Meanwhile, Shibarium has surpassed 1 million wallets. It indicates the demand for Shiba Inu’s Shibarium network and a likely boost in prices.
Also Read: XRP Lawyer Deaton Asserts Coinbase’s Partial Win Against SEC, But Crucial Than Ripple Case
Shiba Inu ecosystem tokens have mostly been under pressure despite Shibarium reopening. SHIB price fell 2% in the past 24 hours, with the price currently trading at $0.0000077. The 24-hour low and high are $0.00000765 and $0.00000782, respectively.
Meanwhile, BONE price trades at $1.08, down 0.5% in the last 24 hours after a small recovery last week. The 24-hour low and high are $1.02 and $1.09, respectively.
Also Read: Terra Luna Classic Crucial Proposal For Dynamic Minimum Commission Is Passed
Veteran trader Peter Brandt is now bullish on Bitcoin, Ethereum, XRP, and XLM after earlier…
Binance said it will compensate users affected by Friday night’s massive crypto selloff that caused…
Fundstrat's analyst Mark Newton is doubling down on their Ethereum prediction of a rally above…
Raoul Pal, the founder of Real Vision, has reaffirmed his bullish stance on the crypto…
XRP ETF issuers have filed amendments for their respective registration statements, providing optimism even as…
Today's crypto market crash triggered major congestion at some of the top centralized exchanges like…