On the day of the highly anticipated public beta release of Shibarium’s PuppyNet, IntoTheBlock reported a 10 trillion decrease in Shiba Inu tokens held by whales. The top 14 token holders now possess 250.66 trillion SHIB, which represents 25.5% of the initial offering and 45.57% of the current supply (excluding the burn address)
The Block data reveals that while the number of Shiba Inu tokens held by whales decreased on March 11 with the public beta release of Shibarium’s PuppyNet, smaller but still big investors had their bags filled with the same amount. Approximately 40 addresses in this category now hold 12.36% of the tokens, equivalent to 121.52 trillion SHIB. Interestingly, these investors started the week with a balance sheet value of 123.16 trillion SHIB, sold some mid-week, and then bought back 10 trillion tokens on the day of the Shibarium release.
Shibarium public beta release
The public beta release of Shibarium was welcomed by retail investors, although they now have 230 billion less Shiba Inu tokens in their hands than they did previously. They now represent the second-largest group of SHIB holders, with a combined balance of 200.7 trillion tokens.
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The Shiba Inu community has been anticipating the Shibarium mainnet launch, which was originally scheduled for May but never happened. Despite the much-awaited Shibarium L2 launch, whale activity increased, with many crypto whales selling their Shiba Inu tokens. In fact, on the day of the public beta launch of Shibarium, Shiba Inu whales shed trillions of tokens. However, SHIB’s indicators suggest that the meme token may experience rises in the coming days or weeks.Interestingly, a Shiba Inu whale who purchased millions of tokens before the Shibarium announcement is now accumulating bags of RenQ Finance. Furthermore, Shiba Inu whales have made significant moves worth about 30 billion tokens, but the SHIB price remains unaffected.Bone ShibaSwap (BONE), the gas fee token of Shibarium with a limited supply, seems to be back on track, raising the question of whether Shiba Inu will follow BONE’s traces. As for the number of Shiba Inu holders, the latest data shows that tens of millions of SHIB tokens are burned every day.