Shibarium’s Launch Day Witnessed Shiba Inu Whales Dumping Trillions of Tokens.

The number of Shiba Inu tokens held by large investors, or “whales,” dropped significantly on March 11, the day of the beta launch of Shibarium, the decentralized Layer 2 network developed by Shiba Inu’s lead developer Shytoshi Kusama. Over a quarter of the first batch of offering and almost half of the total supply are currently held by just 14 people. 40 addresses hold nearly 122 trillion SHIB. However, some of the biggest backers of the meme coin have abandoned it for alternative cryptocurrencies. SHIB’s value has not changed appreciably as a result of the beta announcement, and the future value of Shiba Inu has not yet been calculated. Its direction may be determined by whether or not the price level is held or breaks down. A recovery could send the price of SHIB back up to $0.0000130, but if the price doesn’t recover, it might fall to $0.0000850.

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Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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