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Significant Shiba Inu Token $SHIB Moved from Coinbase to Dormant Account

In recent blockchain data observations of 0xScopescan, a notable transaction involving the Shiba Inu token ($SHIB) has caught the attention of the crypto community. An account, which had remained dormant for two years, received a massive 841 billion $SHIB, equivalent to $8.8 million, from Coinbase over the past three days.

The address in question, identified as 0xc6f400060d98e714992917d7ccfeeb71949e000b, is particularly intriguing to on-chain analysts and enthusiasts. Not only does this account exclusively hold $SHIB, but its previous transaction with the token was recorded two years ago. What makes this even more noteworthy is the timing: merely a week after its last $SHIB transaction, the price of the token experienced a significant surge.

While some speculate that the address might belong to a Coinbase cold wallet, others believe it could be an unknown whale making a strategic move. The exact identity and intentions behind this account remain a mystery.

Shiba Inu has been making waves in the crypto sphere, especially with the buzz surrounding “Shibrium summer.”

From its recent low of 0.00000543 on June 10, 2023, following the SEC’s announcement that over 10 cryptocurrencies are securities, $SHIB’s value rose to 0.00001136 by August 12, 2023, marking an increase of over 100%.

Another indicator, the open interest for SHIB’s derivative, 1000SHIB, has soared past $100M. Its trading volume has even eclipsed that of ETH, while BTC’s price remained static at $2,940 for several days. This on-chain data might suggest that whales remain optimistic about Shiba Inu’s prospects. Factors such as the SHIB burn rate, the overall state of the crypto market, and strategies from market makers could also significantly influence the token’s price trajectory.

However, it’s crucial for observers and investors to interpret these developments with prudence and steer clear of speculative assumptions.

Shiba Inu Shibarium Introduces Wrapped BONE and Hosted Blockscout Explorer

Shib Inu’s Shibarium, a Layer 2 (L2) blockchain network, recently celebrated a significant milestone of reaching 1 million wallets and is on the brink of achieving 1 million transactions, as reported by Blockchain.News.

The network has also launched its hosted version of the Blockscout explorer and expanded its token bridge to include multiple tokens like USDT, USDC, DAI, WBTC, and XFUND.

Shibarium Hits 1 Million Wallets

Shibarium, a Layer 2 blockchain network, has reached a milestone of 1 million wallets, according to an update by Shiba Inu developer Kaal Dhairya on September 3, 2023. The network aims to maintain its status as one of the fastest and most cost-effective L2 solutions. While some users have expressed discontent over the low gas fees, the network views it as a strength.

Blockscout Explorer Now Available

Shibarium has introduced a hosted version of the Blockscout explorer, available on Shibariumscan. The move allows the protocol team to focus on network upgrades. The Blockscout team will ensure the explorer remains operational and the blockchain is fully indexed. Users are encouraged to “Do Your Own Research” (DYOR) and verify contracts using the Blockscout contract verification system.

Token Bridge Expansion

Shibarium has expanded its token bridge to include additional tokens. The newly mapped tokens are as follows:

USDT: 0xaB082b8ad96c7f47ED70ED971Ce2116469954cFB

USDC: 0xf010f12dcA0b96D2d6685bf4dB3dbB4Ad500B6Ad

DAI: 0x0726959d22361B79e4D50A5D157b044A83eC870d

WBTC: 0xE984D89fb00D0B44E798A55dc41EA598B0b0899d

XFUND: 0x89dc93C6c12CaE47aCAf4aD9305d7A442C30dBB2

Wrapped BONE Contract Verified

The Wrapped BONE (WBONE) contract has been verified and is available for public scrutiny. The contract address is 0xC76F4c819D820369Fb2d7C1531aB3Bb18e6fE8d8.

Future Plans

Shibarium plans to renounce the Bone contract within the week and will add more validators to the network. The platform encourages developers to build on top of Shibarium, aiming for the next big innovation to be founded on their network.

Conclusion

Shibarium’s milestone of 1 million wallets and imminent 1 million transactions mark it as a growing force in the Layer 2 blockchain space. With the introduction of the Blockscout explorer and the expansion of its token bridge, Shibarium is not just scaling but also providing tools for transparency and interoperability. As it moves forward, the network aims to foster innovation and empower its community to lead a self-sovereign life.

Shiba Inu Upcoming Developments Revealed: Shibaswap 2.0, Shibahub, Bone, TREAT, Metaverse

Lucie, a core member of the SHIB Inu (SHIB) team, took to Twitter today to provide an overview of the forthcoming developments for the SHIB Inu ecosystem. The tweet has already garnered significant attention with over 4,000 views in a short span.

Lucie listed the following advancements on the horizon for SHIB Inu: Bone contract renouncing, Shibaswap 2.0, $TREAT, Shibahub, Metaverse.

However, in a move to manage expectations, Lucie emphasized that these developments are “steps in our development journey” and cautioned that they won’t materialize overnight. The core member also clarified that the team’s focus is on the technology and its evolution, rather than market-driven price surges. “No price pumping involved,” Lucie stated.

In subsequent tweets, Lucie highlighted the importance of community cohesion and positivity. “If we don’t come together and spread positive vibes, progress will be slow,” she noted. Addressing the broader crypto community, Lucie also commented on the counterproductive nature of spreading false information and the significance of being part of a constructive community.

Lucie’s remarks come at a time when the crypto market is rife with speculation and rapid price movements. Her emphasis on technology over market hype serves as a reminder of the foundational goals of many blockchain projects.

While the exact timeline for these developments remains unspecified with Lucie noting, “When? When it’s ready!”, the SHIB Inu community and investors will undoubtedly be watching closely for further updates.

About Bone

BONE is set to play a pivotal role in the SHIB Inu ecosystem, especially the Shibarium ecosystem, SHIB’s Layer 2 blockchain. In the lead-up to this launch, there will be a minting of the remaining BONE supply, followed by the renouncement of the BONE contract, ensuring no further minting can occur. This action is crucial for initiating the blockchain, as a significant chunk of BONE is reserved for its first role: VALIDATORS. Furthermore, BONE will act as a passport in the system, being the token that DELEGATORS bury for rewards, serving as the GAS TOKEN FOR SHIBARIUM, and playing a role in technology GOVERNANCE within the new framework.

About $TREAT

Ryoshi’s Shiba Inu vision is built on the synergy of core tokens: SHIB, LEASH, BONE, SHI, and the integral $TREAT. While not new, $TREAT’s role is paramount. It fortifies the $SHI Stablecoin’s liquidity and is slated to replace $BONE as ShibSwap’s primary reward. Additionally, $TREAT is earmarked for rewards within the Metaverse and the blockchain version of the Shiba Collectible Card Game. Collectively, these tokens, with $TREAT at the helm, weave the multifaceted tapestry of the Shiba Inu ecosystem.

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