/cdn.vox-cdn.com/uploads/chorus_asset/file/23962442/acastro_STK067__03.jpg)
/cdn.vox-cdn.com/uploads/chorus_asset/file/24247717/lp_logo_3.0.jpg){kind=logo}
/cdn.vox-cdn.com/uploads/chorus_asset/file/24016885/STK093_Google_04.jpg)
/cdn.vox-cdn.com/uploads/chorus_asset/file/24808816/Starfield__The_Settled_Systems___Supra_Et_Ultra_____Starfield__The_Settled_Systems___Su)
[ad_1]
Top SHIB whales added $1.18 million worth of Shiba Inu in under 24 hours. data from etherscan.io Turns out that this whale is ranked as the nineteenth largest SHIB holder having accumulated 140 billion SHIB.
Whales acquired SHIB tokens in two separate transactions, marking their second massive accumulation within 72 hours.
Shiberium launch likely on the back of SHIB token burn and accumulation
Shiba Inu Network and its users Large scale SHIB burn events In 2023. The goal of the burning mechanism is to reduce excess tokens and boost the price of SHIB. However, there has been no significant increase in the price since the token burn event.
Nevertheless, top SHIB whales are hoarding the token ahead of the Shiberium launch and potential price increase for the asset.
Related Reading: Bitcoin Hangs At $26,200: Why It’s An Important Support Level
blaze token Has been recognized as the biggest SHIB burner in recent times on the ecosystem.
Shiba Inu team members project timeline for Shiberium launch
A member of the Shiba Inu’s marketing team, LUCIE, shared your thoughts In a tweet on the proposed mainnet launch of Shiberium.
Shiberium is a Layer-2 (L2) scaling solution built for the Shiba Inu ecosystem. Its launch date is highly speculative, with several dates proposed in the past.
However, LUCIE said they estimated the launch date to be in the third quarter of 2023, with Shiba Inu founder Shiotoshi Kusama projecting a July one.
The exact launch date remains a mystery and LUCIE believes that the Shiberium mainnet launch will take place between Q2 and Q3 of 2023.
At the same time, he believes that Sheeba’s confidence in the team remains yachtMultiple teams are working on this and exploring Artificial Intelligence (AI) integration.
LUCIE insisted that Testing Process important and security audit is necessary before its launch. He further explained, that if the tests go wrong, the Shiberium mainnet release will be delayed.
Shiba Inu Price Outlook
Despite the recent announcements regarding the launch of Shiberium, SHIB did not register much movement in prices. This traded at $0.000009967 on May 1, 2023, before moving to $0.00001002 on May 2. However, by May 4, its price had dropped to $0.000009896, shedding some of its earlier gains.
SHIB dropped to $0.000008695 on May 11, indicating price volatility. The bulls attempted a rally on May 23, which took the price to $0.000008899.
However, SHIB encountered resistance on May 24 at $0.000008519 and at press time is trading at $0.000008479 today, showing a 0.16% increase in 24 hours.
Despite the price increase, the trading volume of SHIB declined by 8%, which is a possible sign of hesitancy among traders in the market. But the launch price of the Shiberium mainnet could be the catalyst SHIB needs to reclaim its advantage in the ecosystem as it could boost SHIB usage.
Featured image from Pixabay and Chart from Tradingview.com
