A new Shiba Inu whale has appeared with a massive 3.48 trillion SHIB purchase and becomes the 29th biggest Shiba Inu holder. This recent purchase showcases the growing interest of crypto whales on SHIB after the Shibarium Beta Testnet, Puppynet launch.

According to a report by Bitcoin World, Puppynet fueled unprecedented growth in the Shiba Inu network, evidenced by the exploding number of new wallets and transactions.

New Whale Bought SHIB Worth $40.24 Million In A Single Transaction

According to recent data from Etherscan.io, a new whale bought 3,484,812,794,902.91 Shiba Inu tokens worth $40.24M in one transaction. The whale only holds SHIB tokens in their wallet and is currently the 29th-highest Shiba Inu holder.

Apart from the new investor, another SHIB whale ranked the 19th largest SHIB buyer accumulated 171,680,526,401 SHIB worth $1,885,051 in four different transactions. The whale amassed these large tokens on April 13, making it 3,656,493,321,303 accumulated by two whales within five days.

These accumulations followed an announcement that the Shiba Inu team intends to launch a crypto portal in addition to the updated ShibaSwap. The portal will offer a venue for news, data, graphs, trends, and other community-related material.

Interest In Shiba Inu Spikes With Continuous Development

Puppynet’s most recent data shows that in the last 24 hours alone, new wallet addresses have joined the network, increasing the total number of addresses to 10,674,798, a notable rise over the previous two days.

Additionally, with an average block time of approximately 7.6 seconds, the Puppynet network has already processed 3,292,323 transactions. Gas prices on the network are currently 1.01 Gwei, making transactions accessible to users.

Another notable development is that Shiba Inu project leader Shytoshi Kusama pointed out the arrival of ShibaSwap 2.0 in a Telegram message, writing, “Ignore anything that says otherwise.”

Shiba Inu Whale Buys 3.48 Trillion Tokens, What's Ahead For The Price Action
Source: Telegram

During the same session, Kusama shared his happiness with the advancements achieved on the beta version of Shibarium, Puppynet. He did stress that SHIB still has “a long way to go.”

Although specifics of ShibaSwap 2.0 are not yet out, the community anticipates several improvements and innovations. These could include increased token support, quicker transaction times, and better security safeguards.

Shiba Inu’s position in the rapidly expanding DeFi market is anticipated to be further cemented with the upcoming ShibaSwap 2.0 upgrade.

Shiba Inu Whale Buys 3.48 Trillion Tokens, What's Ahead For The Price Action
SHIB price trades sideways on the chart l SHIBUSDT on Tradingview.com

Meanwhile, Shiba Inu is trading at $0.000011 with a trading volume of 330,743,311 and a total market capitalization of $6,824,751,960. The token is currently trading in the red zone, declining by 0.61%

This is commendable given that the global market cap, Bitcoin and Ethereum, are down by 1.05%, 2.15%, and 0.48% in 24 hours.

Featured image from Pixabay and chart from Tradingview