According to Whale Alert, a whale transferred 3 trillion SHIB from Coinbase Prime to a newly created self-custody wallet. With an average price of $0.00001299 per token, the transaction totaled nearly $39 million.
It is noteworthy that this was the first transaction made with this wallet. Furthermore, this implies that the investor is more concerned about long-term gains than short-term operations.
In addition to whale activity, the network's consumption rate surged by 1985% in a single day, removing more than 4.7 million SHIB from circulation. Many believe that this drastic reduction in supply will drive long-term price growth.
This comes after the ongoing infrastructure improvements of Shiba Inu. Shiba Inu plans to expand to networks like Base and Solana. While maintaining its tokenomics, it could generate greater liquidity and adoption if implemented through the formal framework.
While Ethereum remains the core of Shiba Inu, developers are actively preparing for its expansion. Shib developer Kaal Dhairya reaffirmed that SHIB "will always be native to Ethereum," but opened the door for developers to incorporate the token into other chains like Base and Solana.
To ensure that such growth benefits the original community, Dhairya emphasized the use of Chainlink's official CCIP framework. With each transaction, this system burns Ethereum tokens and secures transfers between chains. This supports the deflationary model. The team made a significant investment in this integration, collaborating directly with Chainlink to ensure compatibility with the four native tokens of the Shiba Inu ecosystem.
"Dhairya warned that simply implementing SHIB on other blockchains without supporting the ecosystem would be considered exploitation. He urged developers to contribute to the ecosystem that gave it life."
This firm stance ensures that as Shiba Inu expands its presence, value dilution or misuse of its identity is avoided. By utilizing the CCIP framework for all development, the project supports its goal of making SHIB scarcer and more valuable over time.
It is also worth mentioning that the team recently updated its developer hub. The new update provides clear instructions for setting up validation nodes and creating decentralized applications. This improvement boosts participation and decentralization across the network.
Shytoshi Kusama, leader of SHIB, had already announced a new collaboration to create AI infrastructure for Shibarium. Additionally, they are preparing an alpha layer update and a new decentralized exchange (DEX).
Beyond the infrastructure, the community announced upcoming elections to form a DAO council and appoint an interim president. With these plans, the ecosystem is preparing for the next phase of development.
