Shiba Inu Price Rallies As Whale Shifts 3 Tln SHIB, What’s Next?

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Shiba Inu, referred to as the “Dogecoin challenger,” has gained attention in the cryptocurrency community due to its price surge. The value of SHIB has spiked, piquing the interest of market participants. This price increase follows a large transaction where a whale transferred 3 trillion SHIB tokens, fueling buzz and raising queries about SHIB’s future course. Let’s delve deeper into this significant transfer and assess its potential impact on Shiba Inu’s price and trend.

Shiba Inu Price Rallies Amid Massive Whale Transaction

There’s been lots of buzz in the Shiba Inu community as 3 trillion SHIB tokens, worth around $79.94 million, have been transferred between two anonymous wallets. This significant transaction was detected by the tracking platform Whale Alert.

During the examination of the recent transaction, it was observed that the wallet identified as “0x73a…4d935” moved 3 trillion Shiba Inu to an unidentified wallet “0x2ef….2e204” on this day. It is worth mentioning that the recipient wallet ranks among the top 100 wealthiest Shiba Inu holders, fueling speculation about the reason for the transfer and its possible impact on the price trend of the meme coin.

While market observers ponder over the meaning of the whale’s transaction, there is growing curiosity about recent advancements within the Shiba Inu community. Shytoshi Kusama, the mastermind behind Shiba Inu, has recently secured $12 million in financing from TREAT for creating a Layer-3 blockchain in the Shiba Inu network.

Reaching this achievement highlights Shiba Inu’s dedication to improving functionality and applications within its community, making TREAT a crucial element in fostering growth and long-term viability for the ecosystem.

Optimism Prevails Amid TREAT’s Rising Popularity

Introducing TREAT, the new reward token in Shiba Inu’s ecosystem, marks a substantial advancement for the community. It serves two essential roles: functioning as a governance and gas token on the Layer-3 blockchain. As a result, TREAT brings real value to those involved.

Currently, Lucie, who heads marketing at Shiba Inu, has emphasized how TREAT plays a part in motivating SHIB owners to engage in growing the ecosystem while earning benefits and having a say in decision-making. This thoughtful merging of functions underscores the cooperative spirit within Shiba Inu, hinting at its potential for ongoing creativity and expansion.

Significantly, the price of Shiba Inu increased by 3.09% to $0.00002726 during this writing, and its trading volume surged by 18.60% to reach $751.73 million in the previous 24 hours. Notably, the popular meme coin has experienced a nearly 20% gain in the last week. However, over the past month, the SHIB price has declined approximately 3%.

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2024-04-24 10:05