More than $40 Million in SHIB Moved to Unidentified Wallet

• The whale has accumulated 4.41 trillion SHIB tokens, securing the 27th spot.
• Recently, SHIB managed to surpass the significant psychological threshold of $0.00001.

A new whale has emerged prominently by acquiring $40 million worth of Shiba Inu (SHIB) in a single transaction, showcasing remarkable support. This whale has gathered 4.41 trillion SHIB tokens, ranking it 27th among the largest SHIB holders, as per data from Etherscan.

4,412,252,578,938 #SHIB (40,672,144 USD) transferred from unknown wallet to unknown wallet https://t.co/zrqGNV5Jn9

— Whale Alert (@whale_alert) August 6, 2023

Whale Alert has highlighted the emergence of this substantial SHIB accumulation. Recently, Shiba Inu has performed exceptionally well, with its token experiencing a remarkable increase of over 25% in price over the last month after finally breaking free from a consolidation phase that persisted until August 4.

Awaiting Shibarium Launch

Thanks to this surge in buying activity, SHIB was able to exceed the crucial psychological barrier of $0.00001, achieving a new four-month peak. Data gathered by Santiment, a market analysis firm, indicates that SHIB’s price has seen an impressive rise over the past month, with trading volume hitting a new six-month high.

There have been recent efforts to clarify misconceptions surrounding the Shibarium initiative and the expected release of additional tokens within the Shiba Inu ecosystem. As interest in Shibarium and its potential impacts on the Shiba Inu ecosystem grows, the value of the Shiba Inu Token (SHIB) has displayed resilience, increasing by more than 9 percent in the last week.

The “Summer of Shibarium” campaign has sparked enthusiasm for SHIB and related cryptocurrencies, promising exciting launches with the anticipated introduction of Shibarium’s Layer 2 blockchain later this month.

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