Shiba Inu, the second largest cryptocurrency in the world, did not achieve its desired profit in 2022 due to several market crashes. However, recent updates coming from the Shib Inu ecosystem have encouraged and reassured the community for good times ahead amid increasing market turmoil.
Shiba Inu Among ETH Whale Favorites?
According to the report, Shib Inu Ecosystem’s long-planned layer 2 blockchain solution, Shibarium has released a long-awaited update. He pointed out that the beta release should happen in early 2023.
He said the Shiba Inu Bone ShibaSwap (BONE) brand will work as the gas brand needed in the Shibarium. However, this time he added that every transaction that takes place will burn a Shib Inu token in the process.
This recent announcement prompted Ethereum whales to add more Shib Inu to their wallets. According to Whalestats, the SHIB token returned to Wrapped Ethereum (WETH) for the most traded token among 1000 whales. Read more Shiba Inu stories here…
A whale address named BlueWhale0159 bought 187 billion Shiba Inu in one transaction. The purchase price is approximately $1.5 million.
According to the data, Shib Inu is in the list of the top ten tokens of 100 ETH whale bought in the last 24 hours. The SHIB platform has also become the most used smart contract by the whale group.
This data shows that 100 ETH whales are now holding up to $44.2 million worth of Shiba Inu tokens. This represents only 2% of their total.
Will SHIB Burn help increase its value?
The Shibarium update indicates that BONE will be the only crypto for transactions on Shibarium. When Shiba Inu owners (those with over a million SHIBs) will want to trade in Shibarium to burn their badges. In every transaction, SHIB tokens will be sent to the dead wallet. This move will help the community to lock in a large amount of SHIB tokens which can increase the value of Shiba Inu in the future.