- A whale moved $39 million worth of SHIB tokens to cold storage, which signals long-term confidence in the project.
- SHIB’s burn rate jumped 1,985% in one day, and over 4.7 million tokens were removed from circulation.
- Developers plan to expand SHIB to Base and Solana networks while keeping Ethereum the main home.
A significant Shiba Inu whale has transferred 3 trillion SHIB tokens worth approximately $39 million from Coinbase Prime to a newly created self-custody wallet. The massive transaction occurred as Shiba Inu developers revealed ambitious plans to expand the meme coin across multiple blockchain networks.
The whale’s decision to move tokens off the exchange indicates a strong conviction in SHIB’s long-term potential. Whale Alert data shows this represents the wallet’s inaugural transaction, suggesting a buy-and-hold strategy rather than active trading.
Token Burns Accelerate Amid Infrastructure Development
Shiba Inu’s burn rate surged by 1,985% daily, removing over 4.7 million tokens from circulation. This dramatic supply reduction mechanism supports the project’s deflationary tokenomics model.
The burn acceleration coincides with ongoing network infrastructure improvements. Shiba Inu recently upgraded its developer hub with enhanced documentation for validator node setup and decentralized application creation. These technical improvements aim to boost network participation and strengthen decentralization.
Lead developer Shytoshi Kusama has teased upcoming partnerships focused on artificial intelligence infrastructure for Shibarium. The roadmap includes an Alpha Layer update and a new decentralized exchange launch.
Cross-Chain Strategy Maintains Ethereum Foundation
Developer Kaal Dhairya outlined the project’s multi-chain expansion strategy while emphasizing Ethereum as SHIB’s permanent home. The expansion will utilize Chainlink’s Cross-Chain Interoperability Protocol (CCIP) framework to ensure ecosystem integration.
The CCIP implementation burns Ethereum tokens with each cross-chain transaction, reinforcing the deflationary mechanics. This approach prevents value dilution while enabling SHIB deployment on networks like Base and Solana.
Dhairya warned against unauthorized SHIB deployments that fail to support the original ecosystem. The team requires all expansion efforts to contribute to the Ethereum-based foundation, establishing SHIB’s initial success.
The multi-chain strategy could unlock new liquidity sources and user adoption while preserving existing tokenomics. Proper framework implementation ensures cross-chain transfers and maintains security and ecosystem integrity.
Coinbase’s recent introduction of DEX trading for Base network tokens demonstrates growing institutional focus on decentralized infrastructure. This development benefits SHIB’s expansion plans as major exchanges embrace multi-chain compatibility.
The combination of whale accumulation, accelerated token burns, and structured cross-chain expansion positions Shiba Inu for its next development phase. The project’s emphasis on maintaining Ethereum roots while exploring new networks reflects a balanced growth approach.
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