Shiba Inu, a cryptocurrency that started out as a meme but has now solidified its place in the market, is making waves with the launch of “Shibarium.” Data from IntoTheBlock shows that crypto whales (entities that hold large amounts of funds) have moved billions of SHIB tokens in the past 24 hours.

This massive flow of funds coincided with a massive increase in Shiba Inu trading volume, reaching approximately 1.13 trillion SHIB. Large investors appear to be taking action in anticipation of the next big announcement in cryptocurrency, which will likely be the launch of Shibarium.

Whales and Burn Rates – Shiba Inu Active Markets

The high volume metric is a key indicator that provides a snapshot of activity conducted by notable players in the crypto ecosystem, often referred to as “whales,” over a specific time frame.

The metric primarily provides valuable insights into the trading volumes of these influential players on any given day, reflecting their potential impact on market dynamics.

IntoTheBlock defines large transactions as transfers of more than $100,000. As it stands, recent activity indicates increasing volatility in the Shiba Inu market, with whales adjusting their holdings. Meanwhile, the destruction of SHIB tokens has increased significantly, doubling in the past 24 hours.

According to Shibburn, a platform dedicated to tracking Shiba Inu destruction activities, more than 62 million SHIB tokens have disappeared from circulation in the past day, and the total SHIB destruction rate has increased by 220% during the same period.

It’s worth noting that this deliberate reduction in available tokens is a tactic often used in the cryptocurrency space to create scarcity and potentially drive up the long-term value of the remaining tokens, in this case the price of SHIB.

Expectations of Shibarium

The recent activity by SHIB’s largest holders could be related to the upcoming launch of Shibarium. Bitcoin advocate Davinci Jeremie recently expressed his bullish sentiment on X (formerly Twitter), saying: “Big things are happening with Shib, looking forward to [seeing] what happens.”

Further fueling the anticipation, the official SHIB account on X also hinted at the community through a post featuring a cheerful Shiba Inu emoji. However, the exact details of these “big things” remain uncertain, further fueling the curiosity and excitement of Shiba Inu investors.

However, as a new chapter for Shiba begins, the recent surge in whale activity and increased burn rates highlight that the market is bracing for impact. Whether the coming changes will propel SHIB to new heights or lead it down another path is a story yet to be written.

Meanwhile, Shiba Inu token SHIB has seen a sizeable pullback in the past 24 hours after rising by over 5% in the past seven days. As of the time of writing, SHIB is trading at $0.00000817, down 1.1% in the past 24 hours.