Shibarium Launch Hint Sparks 33 Billion SHIB Transfer

The Blockchain Futurist Conference commenced recently in Toronto, Canada. Among the speakers was SHIB lead developer Shytoshi Kusama, who delivered a speech lasting approximately five minutes.

A communication from Kusama was shared by DogPad Finance, a Shibarium-associated project, on Discord. In the message, Kusama questioned the rationale behind unveiling details during a short talk when there’s a 16-minute keynote presentation scheduled for the following day.

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This message has prompted speculation that Shibarium’s debut might take place on August 16. Notably, the launch of the layer-2 network has faced multiple delays attributed to development-related issues.

Following this, there has been an evident transfer of billions of SHIB. Data from Etherscan shows that these whales have also been withdrawing billions of SHIB from exchanges.

Shiba Inu whales move billions of SHIB

Etherscan data reveals significant activity involving SHIB meme coins by unidentified Shiba Inu holders. In a series of transactions detected by Etherscan, an estimated 33 billion Shiba Inu were moved between wallets and withdrawn from prominent cryptocurrency exchanges.

Notably, there are fourteen transactions, each contributing to this substantial movement. Among these, two sizeable transfers of 1.9 billion SHIB each were observed, originating from a KuCoin wallet and being directed toward undisclosed addresses.

Additionally, two transactions involving two billion and 1.8 billion SHIB respectively, are traceable to the OKX exchange, indicating a possible result of recent acquisitions. Consequently, this activity led to the removal of approximately four billion SHIB tokens from various cryptocurrency exchanges. The remaining portion of the aforementioned 33 billion SHIB tokens was subject to exchanges between anonymous wallets.