Shiba Inu Whale Unloads Another 600B Tokens Amid Shibarium Upgrade
The Shiba Inu coin has seen significant developments in recent times. Launched in August 2020 as an Ethereum-based meme coin, it has grown into one of the most widely held meme tokens in the market, currently ranked #33 by market capitalization.
The token is currently trading at $0.0000053, up 2.5% over the past 24 hours, with a market capitalization of $3.147 billion supported by a circulating supply of roughly 589.2 trillion tokens.
A Shiba Inu whale has moved another 600 billion SHIB, worth roughly $3.09 million, which is a reminder that large early holders still have significant SHIB left to sell.
The Shibarium upgrade going live with nine verified contracts is also seen as a sign of continued ecosystem progress, separate from short-term price swings.