An unidentified Shiba Inu (SHIB) whale has appeared out of nowhere and is in the process of moving trillions of tokens just as the most popular memecoin begins to show signs of life.
The blockchain monitoring firm Whale Alert was the one that found out about the huge Shiba Inu transaction initially.
The huge organization in issue reportedly moved 3,484,812,794,902 SHIB worth over $40 million from one wallet of unknown provenance to another wallet of unknown origin, as reported by Whale Alert. The investor with significant funds moved the enormous SHIB treasure that was worth tens of millions of dollars for a fee of less than three dollars.
Etherscan, a platform that monitors the blockchain, demonstrates that the SHIB stack continues to be under the ownership of the receiving wallet.
At the time of writing, the price of Shiba Inu was $0.00001147. The leading meme cryptocurrency asset has increased by approximately 7% from its seven-day low of $0.00001074.
Shytoshi Kusama, the chief developer of Shiba Inu, has issued a warning to rival cryptocurrency projects who are leveraging his name and massive following to promote their own coins. The warning comes at the same time as a major Shiba Inu transaction. Coins that assert themselves to be the official token of the layer-2 Shibarium project are something that market players should be on the lookout for, according to Kusama, who also advises that market participants should be on the alert.
“I am not affiliated with any token that is unlawfully using my name or likeness,” said the token’s creator. DYOR, or conduct your own research, and don’t let yourself be taken advantage of. Similarly, there is no such thing as a “official” Shibarium token; as Shibarium is an L2 blockchain, any tokens associated with it should be regarded as very dubious. Should I enlist in the SHIB army?”