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Shiba Inu Token Surges Among Ethereum’s Top Whales, Attracting Developers

Shiba Inu Token Surges Among Ethereum’s Top Whales, Attracting Developers

The biggest holders of Ethereum's cryptocurrency (ETH) now possess over $600 million worth of Shiba Inu's (SHIB) meme token, which is gaining traction among developers.

As per Whale Alert, a crypto whale tracker, the top 2,000 ETH whale holders possess $606,553,503 worth of SHIB, making it the most valuable token in their portfolio.

SHIB has surpassed Chainlink (LINK) as the most traded token among the top ETH whales, as per Whale Alert. However, SHIB’s top traded token position was fleeting, with LINK regaining the number one spot a few hours later.

The Shiba Inu ecosystem is experiencing a surge of interest after launching Shibarium, a new portal aimed at attracting developers, entrepreneurs, and community members to its upcoming layer-2 scaling solution.

Shibarium lead developer, Shytoshi Kusama, stated that thousands of people responded to the portal just days after its launch, expressing their interest in building Web3 projects, working with Shiba Inu, or creating content.

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Shiba Inu plans to introduce a beta version of Shibarium next week, which is designed to be comparable to other layer-2 scaling solutions, such as Polygon (MATIC).

The new network is expected to considerably increase transaction speeds and lower gas fees. At the time of writing, Shiba Inu was trading for $0.0000113.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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