Shiba Inu (SHIB) Made a Historic Move in the Crypto Market

• SHIB’s lead developer revealed that the layer-2 network could see the light of day.
• 1.4 billion SHIB tokens were burned in a single transaction by whales.

In recent times, the popular memecoin Shiba Inu has made a significant impact in the crypto world. The memecoin continues to dominate the crypto market. The change in the Twitter logo to DOGE by Elon Musk makes memecoin as the talk of the town. Following that, a mysterious Shiba Inu whale suddenly transferred 3.4 trillion SHIB tokens worth $40 million.

The transaction is a historic move in the crypto space for the memecoin. According to IntoTheBlock, the total transaction of SHIB for the past week has reached $175 M. This transaction raises the question of whether it might be an internal transaction made by a crypto exchange among its internal addresses. Significantly, this mysterious transaction has created an impact on the industry.

Shiba Inu Team Working on Secret Project

After the massive transaction, SHIB’s leading developer, Shytoshi Kusama, stated that the Shibarium layer-2 network could see the light of day in two or four months. The statement brings relief to the users, as the launch has seen several delays. He also revealed that the team is working on UI design for some secret projects. 

At the same time, Shib Burn reported that recently, 250,000 tokens were transferred to the dead wallet. Moreover, in the last 24 hours, 1.4 billion SHIB tokens were burned in a single transaction by a whale. Overall, in the last seven days, 1.8 million tokens were burned by the SHIB community, which is 40.76% less than they destroyed in the week before last. 

At the time of writing, the trading price of SHIB is around $0.00001095, with a decrease of 5.22%. In the last 24 hours, the trading volume of the coin is $278,223,092, which inclined by 18.52%, according to CoinMarketCap.

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