24/7 Cryptocurrency News

Whales Buying Shiba Inu Amid Shibarium Restart, SHIB Price To Rally?

Surge in high-value SHIB transactions amidst Shibarium launch prompts community concern, Shiba Inu price goes down by 2.81%.
Published by
Whales Buying Shiba Inu Amid Shibarium Restart, SHIB Price To Rally?

In recent developments, Shiba Inu (SHIB) has witnessed a surge in high-value transactions, sparking curiosity and concern within its community. Today, a staggering 4,653,778,173,637 SHIB tokens valued at $38,391,343 were transferred from Bitvavo to an unknown wallet, popular blockchain tracking service Whale Alert reported.

Advertisement

Increased Whale Activity After Shibarium Launch

The above whale transaction follows a similar transfer of 4,669,778,173,637 SHIB tokens worth $38,707,791 from an unknown wallet to another on the last day. The heightened activity in these high-value transactions coincides with the launch of the Ethereum-based layer-2 blockchain, Shibarium, which triggered a surge in SHIB token transfers.

These important transactions attracted the attention of the Shiba Inu community, especially after the Shibarium’s debut. The Shiba Inu team addressed the problem in response to growing worries, providing details on the technical difficulties and reassuring readers of the protection of their money. This message was intended to assuage concerns caused by the flurry of action that followed the release of Shibarium.

Shibarium’s decision to halt block production after its August 16 launch disappointed Shiba Inu fans and supporters.
As per new developments, according to Shibariumscan.io, the block explorer for Shiba Inu’s layer-2 blockchain, Shibarium has been reactivated and is actively generating blocks.

Also Read: Empowered Funds Files For Bitcoin Futures ETFs

Advertisement

Shiba Inu Price Continues To See Dip

Shiba Inu’s market performance over the past 24 hours has been characterized by a 2.81% decline, despite the influx of high-value transactions and the interest around Shibarium. Shiba Inu’s price is trading at 0.000008181 at the time of writing. This decrease in value contrasts with the increase in whale activity and heightens the mystery around the current scenario.

The larger cryptocurrency community is closely watching as the Shiba Inu community struggles to understand the complexities of these important token transfers and their repercussions. The Shiba Inu team’s efforts to provide clarification are commendable, but these developments serve as a reminder of how quickly the crypto world is developing.

Also Read: BTC Price Dips Target $20k, Last Opportunity Before the Bull Run?

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Bitget Joins UNICEF Game Jam To Train 300,000 Youths In Blockchain

Bitget has announced support for UNICEF’s first global Game Jam, a 40-day virtual hackathon across…

October 3, 2025
  • Bitcoin News

Crypto Market Rally: BTC, BNB, SOL, XRP, ETH Surge Amid Q4 Momentum

The crypto market is seeing renewed bullish momentum to begin the fourth quarter of this…

October 3, 2025
  • 24/7 Cryptocurrency News

Bitcoin ETFs Record $2.2B Weekly Inflows as BTC Price Surges Past $120K

Bitcoin ETF products recorded more than $2.2 billion in weekly inflows, building on the momentum…

October 3, 2025
  • 24/7 Cryptocurrency News

Nomura Eyes to Ripple Dominance in Crypto Trading in Japan as Demand Rises

Nomura Holdings, Japan's largest brokerage and investment banking group, eyes to ripple its dominance to…

October 3, 2025
  • 24/7 Cryptocurrency News

Sharps Technology Plans $100M Buyback to Boost Solana Treasury as SSK ETF Hits Record $382M AUM

Sharps Technology has announced a $100 million stock buyback plan, suggesting further investment plans in…

October 3, 2025
  • Bitcoin News

Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?

Bitcoin surges above $120K following massive capital inflows into the crypto market in response to…

October 3, 2025