The post Ethereum Whales Hype Up Shiba Inu with Shibarium Launch On Horizon appeared first on Coinpedia Fintech News

The long-awaited release of the Shibarium layer 2 scaling solution is the focus of the Shiba Inu (SHIB) ecosystem. The Shiba Inu community may count on more token burns now that the Shibarium L2 is operational. In expectation of greater returns, additional Ethereum-based whales have reportedly moved to the Shiba Inu ecosystem.

Despite the coin’s recent price decrease, data from WhaleStats reveals that SHIB, which has a market cap of $601.2 million, is the most common cryptocurrency held by the top 100 Ethereum whales, with a share of 12%. Given that most  investors now possess more stablecoins, this amount only represents about 10% of the altcoins owned by ETH whales.