Shiba Inu whales are back at it, amassing more of the popular meme coin. These big players have scooped up roughly $9 million worth of SHIB in the past two months.

The recent buying spree is in the lead-up to the debut of Shibarium, a second-layer solution designed for the SHIB ecosystem.

Shibarium Bridge to Ethereum Now in Testing

On-chain data from Santiment reveals that Shina Inu whales — addresses holding 10 million to 100 billion SHIB tokens — have purchased a staggering 1.11 trillion SHIB since June 4.

As of today, the combined holdings of these wallets amount to 32.49 trillion SHIB tokens, worth approximately $265.73 million.

Recent strides in the Shiba Inu ecosystem might catalyze this heightened interest. As the launch of the layer-2 Shibarium network nears, SHIB developers have initiated a testnet bridge linking Shibarium to Ethereum.

This bridge streamlines asset transfers between the two blockchains. Still, Shibarium only supports testnet assets for now. The Shiba Inu team encourages users to delve into t

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Author: Oluwapelumi Adejumo

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