Whale Shiba Inu (SHIB) Suddenly Transfers Hundreds Of Billion Tokens

Shiba Inu meme coin. (Photo; Doc. CoinMiner)

JAKARTA - An unexpected move from Shiba Inu (SHIB) crypto shareholders occurred when the wealthy investor suddenly transferred 800,215,912,624 SHIB worth USD 8,230,620 (IDR 126.4 billion) from Shiba Staking to an unknown wallet. This was revealed from the data released by the crypto asset tracking platform, Whale Alert.

The token shift occurred when a developer in the Shiba Inu ecosystem using a pseudonym, denied rumors circulating that Shibarium, a new layer-2 protocol in the Shiba Inu ecosystem, was using code stolen from another blockchain.

The developer clarified that the issue lies with the testnet's Chain ID, an alternative way of differentiating between blockchains, and will be fixed and relaunched.

"Omitted some FUDs since we implemented the Alpha network: some Chain IDs were chosen randomly - 417 (Alpha), 517 (Staging), 917 (pre-pod/beta), and these chains were not listed anywhere at the time... I made the mistake of not checking back when the Puppynet network was launched,” according to the SHIB developer, quoted by U.Today.

“Without getting into a fight, I will be launching a beta version of the new network with the new Chain ID. New implementations will be rare in the future but probably because we are still in beta. I hope blockchain can develop well and we can work together,” added the developer of the meme coin.

Even so, the SHIB token is trading at a price of IDR 0.16 per token. SHIB prices have increased by 2.4 percent in the last 24 hours. Shiba Inu has a community that is known to be solid and strong, they also often raise funds to help victims of disasters including the Turkiye earthquake some time ago.