As a seasoned researcher and investor who has navigated the volatile crypto market for years, I find myself intrigued by the recent surge of whale activity in Shiba Inu (SHIB). This 129% increase in large transactions, totaling $33.41 million or 2.51 trillion SHIB, is a clear indication that the big players are once again showing interest in this dog-themed cryptocurrency.
The popular dog-based cryptocurrency, Shiba Inu (SHIB), has experienced a significant increase of 129% in major transactions, indicating a rise in whale activity once more.
Large transactions surpassing $100,000 have significantly increased by 129.64% in the past 24 hours, amounting to approximately $33.41 million or 2.51 trillion SHIB, indicating that prominent Shiba Inu investors, often referred to as whales, appear to be re-engaging with this cryptocurrency.
The rise could indicate that whales are possibly engaging in significant transactions of Shiba Inu, as the crypto market remains stable before the Fed’s interest rate decision. Over the past day, SHIB experienced a minimal decrease of 1%, reaching $0.00001315.
The increase in whale involvement coincides notably with an important period for Shiba Inu, as it prepares for major advancements within its system, primarily focusing on the development of its layer-2 platform, Shibarium.
Shibarium’s big milestone arrives
Based on the latest news, we can finally put an end to our waiting game since the primary liquid staking platform for Shibarium’s K9 mainnet is gearing up for its launch.
As an analyst, I’m excited to announce that starting tomorrow at Noon EDT, our liquid staking platform @K9finance will be live on @ShibariumNet! This development will significantly boost the value and transaction activity within Shibarium.
— Shib (@Shibtoken) September 17, 2024
Following almost a year of construction, the Bonecrusher Mainnet is now set for release, marking the imminent debut of the K9finance liquid staking platform on Shibarium.
Introducing liquid staking for BONE on our platform aims to amplify the value of SHIB by enhancing the overall value locked (TVL) within Shibarium and boosting transaction activity on Shibarium. This increased activity could lead to a higher rate of SHIB being burned through the SHIB Torch mechanism.
In August, the live launch of Shiba Inu’s burn platform, known as “SHIB Torch,” took place on Shibarium. This innovative development on the k9 mainnet is anticipated to allow the SHIB Torch platform to burn more SHIB tokens.
In the upcoming days, we can anticipate fresh advancements within the Shiba Inu community. One of its team members, Lucie, hinted in a recent post that the Shiba Inu ecosystem could be on the verge of an enigmatic transformation. The future TREAT token appears to be key in this evolutionary process.
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2024-09-18 15:52