- The biggest Ethereum whales netted over 8.7 trillion SHIB tokens last week.
- Yesterday, Turkey and Syria experienced their strongest earthquake in 100 years.
- Developer Shytoshi Kusama tweeted his condolences to the people affected.
Shytoshi Kusama, the mysterious lead developer of Shiba Inu (SHIB), posted a heartfelt message on Twitter today. He asked the SHIB Army to lend a helping hand to the people suffering from the aftershocks of the massive earthquake in Turkey and Syria.
The horrendous Kahramanmaras earthquake’s body count has surpassed 5000, and people are still being rescued from the ruins in the epicenter of Gaziantep two days after the natural disaster.
In response to the ghastly news, Kusama called for crypto whales to help in these words: “My heart and prayers goes out to the #SHIBARMY in #Turkey and #Syria. Please put non-profits that accept #Shib from the comment area so whales can help!”
My heart and prayers goes out to the #SHIBARMY in #Turkey and #Syria. Please put non-profits that accept #Shib from the commemt area so whales can help!
— Shytoshi Kusamaâ„¢ (@ShytoshiKusama) February 6, 2023
Whales Play Key Role in SHIB’s Growth
The past week has been great for the popular canine coin Shiba Inu. The dog-themed crypto fetched 22.5% gains in the last seven days, as the community’s hopes for Shibarium are reaching their culmination. Indeed, SHIB extended its global market cap by $1.3bn, going from $6.9bn to $8.2bn.
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On top of that, the bullish SHIB price movement coincides with increased Ethereum (ETH) whale activity. A colossal seven trillion Shiba Inu tokens were acquired by whales, summing up the total held amount to a whopping 8,749,145,591,250 SHIB. The #13 ranked canine crypto trades at $0.00001409, according to CoinGecko.
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The increased SHIB trading activity formed a bullish signal for the gas fee token, Bone ShibaSwap (BONE). As the developers confirmed $BONE to be the only token in the upcoming Layer-2, the largest Ethereum (ETH) whales intend to accumulate a larger chunk of BONE before the upgrade goes live.
Whales Grab 8.7 Trillion Shiba Inu in Past Week
— Shib 2022 (@SuhelMemon4) February 6, 2023
The U.S. Dollar equivalent of Shiba Inu held by them has jumped from roughly $599 million to $728,981,399. The new figure in fiat constitutes 8,749,145,591,250 Shiba Inu coins. pic.twitter.com/1XPeACPW8B
On the Flipside
- Despite many members of the Shiba Army sharing their condolences, nobody answered Shytoshi’s request in the comments. So far, there have been no suggestions on how to donate Shiba Inu to a non-profit organization dealing with the ongoing situation caused by the earthquake.
Why You Should Care
Crypto is known to help in cases of natural disasters, oppression, and wars. As most cryptocurrency transfers are faster than legacy banking, financial aid can arrive quicker and significantly speed up relief efforts.
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