Shiba Inu (SHIB) price picks up momentum as Ethereum whales scoop massive Shiba Inu coins. While core developers and Shiba Inu Ecosystem tease the launch of the Shibarium Layer-2 blockchain soon, the community expects a massive rise in SHIB burn and utility on the chain in 2023.
Shiba Inu Burn Rate Rises Ahead Shibarium
Shiba Inu burn tracker Shibburn in a tweet on January 3 reported another massive increase in the burn rate of Shiba Inu tokens. A total of 182,339,090 SHIB tokens were burned in the last 24 hours. The massive increase in the SHIB burn was contributed by 11 transactions to remove Shiba Inu tokens from the circulating supply.
According to the Shibburn website, the burn rate and the number of transactions have been increasing massively in the last few days. On January 2, 159,411,895 SHIB tokens were burned in 13 transactions.
On New Year’s Eve, an address sent 297,290,339 SHIB tokens to the burn address, causing the burn rate to rise by 13,198%. Whales are coming back ahead of the anticipated Shibarium launch in early 2023. The mysterious address has again sent 73,996,550 SHIB tokens to the burn address.
WhaleStats data indicates the Shiba Inu token as the most purchased token by Ethereum whales. Moreover, Shiba Inu is once again the most used smart contract among the top Ethereum whales in the last 24 hours. Therefore, the development activity and whale activity are rising for Shiba Inu in the last few days.
Shiba Inu and BONE Price Awaits Rally
Shiba Inu coin price has picked up momentum in the last few days due to the Shibarium launch coming soon. The SHIB price is currently trading at $0.0000082, up nearly 2% in the last 24 hours. The 24-hour low and high are $0.000008129 and $0.000008236, respectively.
Meanwhile, Shibarium gas token BONE is trading 6% up at $0.89. The 24-hour low and high are $0.850 and $0.901, respectively.
Also Read: Bitcoin Price Bottom Approaching Fast, Time To Buy The Dip?
The post Shiba Inu Coin: Ethereum Whales Scoop SHIB Tokens Ahead Of Shibarium Launch appeared first on CoinGape.