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A new whale in the Shiba Inu ecosystem has caught the attention by purchasing Shiba Inu (SHIB) worth $40 million in a single transaction. Etherscan on-chain data reveals this impressive purchase, with the whale accumulating 4.41 trillion SHIB tokens, ranking 27th among the largest SHIB holders.
Shiba Inu’s Rise Continues
This purchase, which attracted attention with the Whale Alert tweet, coincides with Shiba Inu’s remarkable performance in recent times; the token experienced a significant increase of more than 25% in its price last month and broke free from the consolidation zone that lasted until August 4.
This upward momentum pushed SHIB to its highest level in the past four months, surpassing the psychological resistance level of $0.00001. As reported by the cryptocurrency data analysis company Santiment, SHIB’s price saw an impressive surge last month, and its trading volume reached the highest level in the past six months.
In parallel, Shytoshi Kusama, the lead developer of Shiba Inu, took a firm stance against misinformation targeting the community, making efforts to debunk scams related to the release of new tokens in the Shiba Inu ecosystem, including misleading claims about the Shibarium campaign.
A New Era Begins
Shiba Inu has garnered attention by surging over 9% in the past seven days, driven by the increasing interest in Shibarium and its potential impact on the Shiba Inu ecosystem. Currently trading at $0.000009161, SHIB attracts attention due to the potential rise brought by this update in the cryptocurrency community.
The launch of the Shibarium Layer-2 network is expected this month, and the “Summer of Shibarium” campaign, which will include exciting events, continues to increase market interest in SHIB and related currencies.
