Good news in the Shiba Inu household: a big whale has added $10 million in crypto SHIB, increasing its total holdings.
Meanwhile, the “Puppynet” blockchain testnet has surpassed 20 million transactions.
The addition of $10 million from the biggest whale of the Shiba Inu crypto
Excluding exchanges, it seems that the biggest whale of SHIB wanted to increase its participation last Monday, adding as much as $10 million.
And indeed, as data taken from the chain show, this address now appears to be Shiba Inu’s largest holder.
Basically, as of today, the largest holder of SHIB (excluding exchanges) would have a total holding of 5.3 trillion SHIB, worth $35 million at yesterday’s prices.
This “strategy” comes in conjunction with the great success of Shibarium’s native testenet blockchain, Puppynet.
Shiba Inu: the crypto could rise in price thanks to Puppynet
Puppynet’s testnet blockchain was designed purely for testing purposes, so that by mimicking the activity of the Shibarium mainnet, it allows developers to identify any problems and monitor network activity before a wider release.
Much to our amazement, it certainly appears that participation in Puppynet is very active. In fact, on Monday the blockchain testnet surpassed 20 million transactions from its 16 million wallets.
This intense activity could also affect the price of the crypto coins involved such as SHIB and BONE.
In this regard, at the time of writing, the price of SHIB seems to be starting to target an upward trend, although it is too early to tell.
Indeed, the 18th-largest crypto by market capitalization participated in the general crypto dump due to the latest SEC charges against Binance and Coinbase, but as of this very Monday its price seems to be rising again.
From a low of $0.000005732 on Sunday, SHIB rose to $0.000006969 the next day. At the time of writing, SHIB is worth $0.0000068, still dumping -15% from last week and -22% from a month ago.
The arrival of the metaverse for the memecoin community
Last week, Shiba Inu reportedly released a trailer spoiling what the new Rocket Pond metaverse, dedicated to the memecoin community, will look like.
It is a new virtual world of the shiba dog that is expected to serve as a central hub for all those who follow Shiba Inu’s home initiatives.
Although there is no official launch date yet, the community is already buzzing. The video trailer showcased some of the facilities that will later be central to the metaverse, such as Lake Tahoe, Cape Canaveral, and Heavenly Village.
Source: https://en.cryptonomist.ch/2023/06/14/shiba-inu-whale-adds-10m-shib-crypto/