Ethereum Whales Acquire SHIB Ahead of the Shibarium Launch

• As of the end of the previous day, a total of 182,339,090 SHIB tokens had been burned.
• The burn rate increased by 13,198% on December 31st.

The price of Shiba Inu (SHIB) is on the rise as Ethereum “whales” buy up large quantities of the cryptocurrency. Community members anticipate a dramatic increase in SHIB burn and usefulness on the chain in 2023, as main developers Shytoshi Kusama and Trophias, together with the Shiba Inu Ecosystem, tease the debut of the Shibarium Layer-2 blockchain.

On January 3, the Shiba Inu burn tracker Shibburn tweeted that the burn rate of Shiba Inu tokens had once again dramatically increased. As of the end of the previous day, a total of 182,339,090 SHIB tokens had been burned. Eleven transactions removed a significant amount of Shiba Inu tokens from the market, contributing to the enormous spike in the SHIB burn.

The website for the cryptocurrency exchange Shibburn reports that the burn rate and the number of transactions have been rising dramatically over the last several days. There were a total of 13 transactions on January 2 that burnt 159,411,895 SHIB tokens.

Impending Introduction of Shibarium

The burn rate increased by 13,198% on December 31st when an address delivered 297,290,339 SHIB tokens to the burn address. The return of whales heralds the impending introduction of Shibarium in early 2023. In the last twenty-four hours, the anonymous address has once again sent 73,996,550 SHIB tokens to the burn address.

According to WhaleStats statistics, the Shiba Inu token is the most acquired token by Ethereum whales. Not only that, but among the largest Ethereum whales, Shiba Inu has been the most popular smart contract once again in the last day. For this reason, the past few days have seen an increase in both development and whale sightings around Shiba Inu.