The dog-themed cryptocurrency Shiba Inu (SHIB) is witnessing a significant increase in large holder activity and is also preparing for the launch of a new staking platform on Shibarium.
Rise in Whale Activity
According to data from IntoTheBlock, large transactions with SHIB have surged by 129.64% in the last 24 hours, reaching $33.41 million or 2.51 trillion SHIB. This suggests that large holders, also known as whales, are once again paying attention to Shiba Inu. SHIB was down by 1% in the last 24 hours to $0.00001315.
K9finance Platform for Shibarium
According to a recent announcement, tomorrow at Noon EDT, the liquid staking platform for Shibarium will be launched. The new platform will allow stakers to use BONE to increase the total value locked (TVL) on Shibarium and increase transaction volume. This is expected to help the SHIB Torch burn more SHIB.
New Developments in Shiba Inu Ecosystem
In August, the SHIB Torch burn portal went live on Shibarium. Team member Lucie revealed in a recent X post that the SHIB ecosystem might be on the brink of significant changes, with the future TREAT token playing a pivotal role.
The development of the Shiba Inu ecosystem continues with increased whale activity and the launch of new platforms, which could impact the future of the cryptocurrency.
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