As dog-themed crypto assets prepare to launch a new metaverse, crypto whales suddenly transfer trillions of Shiba Inu (SHIB) tokens.
According to a tweet by Whale Alert, the platform for tracking whales said that a large number of SHIB tokens (3,323,256,285,484) were transferred from one unknown wallet to another.
🚨 🚨 3,323,256,285,484 #SHIB (30,458,751 USD) transferred from unknown wallet to unknown wallethttps://t.co/f12FEIOwzC
– Beware the Whale (@waspada_whale) January 12, 2023
Metaverse Open
The addresses used in these transactions are not related to the cryptocurrency market, so it is unlikely that these actions are related to the buying or selling of trending meme coins.
The Shiba Inu team has recently made several announcements, and this massive SHIB token transfer has already taken place. First, the developer Shiba Inu said that they want to reveal the new metaverse at the South by Southwest (SXSW) festival 2023 in Austin, Texas.
A virtual reality (VR) tour of the WAGMI Shrine, one of 11 locations in the Shiba Inu metaverse that features the Dogecoin (DOGE) competition, will be featured at the exhibition.
Expanding Shiba Inu Coverage
For the Ethereum-based Shiba Token Decentralized Community Project, millions of loyal SHIB supporters have organized themselves into a movement called the #ShibArmy. As a result, the cryptocurrency is consistently placed in the top 15 by market cap. According to the Shiba Inu Ecosystem Blog:
The unique possibilities that will exist in HUBs like the WAGMI Temple make SHIB: The Metaverse stand out. “The HUB is the center of activity in the Metaverse, offering a distinctive experience based on each HUB theme,” explained Sherri Cuono, Metaverse Advisor for Shiba Token.” Each offers special tours that can only be experienced in the hub. The common thread is the extensive digital or digital-plus-IRL utility including activities, commerce, customization, expression, events, education, exploring and more. Users will be able to earn income passively, collect in-game resources, generate rewards, and even have your own space to build and manage projects in SHIB: The Metaverse.
On the other hand, the Shiba Inu team has announced some of the latest upgrades to the Shibarium Network. It will deploy a layer-2 scaling protocol and promote Bone ShibaSwap (BONE) as an official blockchain-related virtual asset.
Binance, the world’s largest cryptocurrency exchange measured by volume, was asked to mint a staggering 4 trillion Shiba Inu tokens as a result of this move.
The trading price of Shiba Inu is $0.00001032 with a 24 hour trading volume of $667.322 Million. The Shiba Inu price is up 7.72% in the last 24 hours and is up almost 24% in the last 7 days, with a market capitalization of $5.655 Billion.
Featured Image from Somagnews, chart from Tradingview.com.