A Shiba Inu (SHIB) whale recently transferred over 4.6 trillion SHIB tokens, worth around $38 million, between two undisclosed wallets. While the investor's motivation is unknown, some think that it has something to do with the relaunch of Shibarium, the layer-2 scaling solution for the SHIB ecosystem.
Shibarium encountered many technical challenges during its August launch, causing millions of dollars in crypto assets to become stranded on its Ethereum bridge. The issues were rectified by adding extra node validators and adjusting the network parameters after the blockchain had to be moved to private mode.
Shytoshi Kusama, the principal creator of the SHIB project, announced Shibarium's relaunch a few days later, claiming that Shibarium is now "ready for prime time." Shibarium's mainnet now has over 50,000 active wallets, indicating that the platform has gotten more stable since then. However, SHIB and BONE prices have varied slightly since then, with SHIB rising slightly and BONE falling slightly.
Many assume that the whale opted to delete $38 million in SHIB from the blockchain following its recurrent launch mishaps. In all likelihood, the multi-millionaire will transfer the tokens to an exchange during the next several days.
Golden Inu Prepares To Burn Tokens
While $SHIB is making headlines for its whale movements and layer-2 advances, another memecoin is quietly preparing for a significant event that has the potential to explode its value. The "Golden Treasury," the Golden Inu token ecosystem's unique token-burning process, is slated to be unveiled in the coming weeks.
Golden Treasury is a smart contract that leverages 50% of the aggregate dApps earnings to purchase back $GOLDEN tokens from circulation and burn them. This novel technique increases scarcity and may facilitate long-term value appreciation.
The burning is expected to begin as soon as the stable version of Golden Inu's new P2E game "Golden Inuverse" game is released in a few weeks. The beta version is now available, allowing users to see if the game has evolved to the point where they can verify the progress of the play-to-earn game.
However, in order to register and earn, Golden Inu players must be active in the Golden Inu ecosystem. To be able to play and earn money, players must have at least $11 in $GOLDEN [bep-20] tokens.
This increases the value of the Golden Inu token and assures that people are at least aware of how to trade the cryptocurrency dubbed the 'Shiba inu Killer.' Users will be able to earn Golden Inu ($GOLDEN) tokens through in-game jobs, battling, and adventure once the stable version is released. This has both players and investors ecstatic to be a part of the project from the start.
The game will immerse players in a realistic crypto-based universe where they may take advantage of the GOLDEN token's unique qualities for a fascinating and rewarding gaming experience. The allocation of 50% of revenue to the Golden Treasury is projected to have a significant impact on the GOLDEN token by reducing supply and increasing demand.
Furthermore, if the game attracts a huge and active user base, the token's value will most certainly increase significantly. This follows the addition of the Golden Inu's ERC-20 version of the $GOLDEN token to the popular coin indexes Live Coin Watch and Coin Gecko.
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