In an unprecedented turn of events, a whopping $40 million worth of SHIB has moved within the Ethereum network. Supposedly from a meme coin whale. The massive transfer involves SHIB worth 4.65 trillion. However, while the movement remains one of a kind, it does not suggest the intention to sell.
Data from the Ethereum network highlights a massive influx of new users rushing to put to task the scaling layer-2 platform, Shibarium. The unprecedented event shines a spotlight on Shiba Inu–a meme coin with a utility angle. Another such product is DigiToads (TOADS), a dual-faceted product running a meme coin and a utility basis.
The Two-Face Meme Coin Betting on Utility to Sparkle in the Crypto Market
DigiToads’ rush to top the crypto market has reached a monumental point. The product is ushering in the post-presale phase boasting of presale income of about $7 million. The massive figure stems from the early position taken by the product, existing as a meme coin and a utility product.
As things stand, TOADS, the native token, goes for about $0.055, which represents a whooping increase of about 450% since the presale launch. The multi-step presale proved profitable for early investors, who raked in massive bonuses while having the time to experiment with impressive features of the DigiToads ecosystem.
DigiToads boasts multiple rooms geared at excitement and passive income. NFT staking is one of those areas, bringing the root meme of the product to life. The immutable assets, written on the Ethereum chain, have staking pools, allowing investors to draw out more than they put in, with only the passage of time making this possible.
The platform has also set a multiple reward pool feature, where numerous NFTs can go into the staking pools concurrently for maximum returns. While NFTs remain impressive in their passive income capacity, they are also formidable in P2E. The assets inspire a series of characters that make gaming fun.
TOAD characters battle it out for a chance to appear at the top, those able to top the leaderboards receive massive prizes.
DigiToads provides an easy entry to owning NFTs, easily found on the site. Beyond NFTs, the platform boasts of staking pools, working simultaneously with NFT pools for more income to the token holder. Staking pools work based on time, when ripe, TOAD owners can redeem them for cash in the liquidity pools.
As the DigiToads project ages, it has set mechanisms to guarantee healthy Tokenomics. Early on, the project used a token-increment technique that proved profitable for early participants, who also benefited from massive bonuses and cash giveaways. At the start of the presale, a single token sold for about $0.01. Currently, the same goes for about $0.05.
Beyond the presale stage, when market pressure determines the prices, the project has a set token burn feature, automatically taking out tokens when needed. The feature guarantees TOAD maintains a steady price for the entirety of its life.
Shiba Inu Whale Executes $40 Million $SHIB Transaction After Just One Day
While moving massive assets in any blockchain network seems unprecedented, $40 million worth of SHIB moved from one wallet to another from a single holder. The massive transfer comes immediately after a solution concerning Shibarium scaling came to light.
The test net, being sponsored by Shiba Inu, has undergone various testing phases and is planning for launch. However, it has come under intense pressure because of a massive influx of users since the announcement, creating some backlogs within the system. The platform registered a failure in the movement of ETH to the Shibarium network. A scaling solution came about to solve the problem, potentially prompting the movement of a massive amount of tokens from a single whale.
Conclusion
Shiba Inu is a big name in the meme coin space, inspiring upcoming projects. Since it maintains a significant influence in the market. Any token movement is noteworthy. The movement points to a test network that inspires the utility side of DigiToads. DigiToads being dual-faceted will continue to excite the market.
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Source: https://www.analyticsinsight.net/shiba-inu-whale-transacts-40-million-in-shib-after-merely-a-days-hold-what-does-it-mean-for-digitoads-launch/