The largest whales on the Ethereum ($ETH) network have been betting on the meme-inspired cryptocurrency Shiba Inu ($SHIB) ahead of the project’s upcoming Metaverse Shiberse, which is set to be released with 99,000 plots of land in it.

According to data from whale monitoring resource Whale Stats, the meme-inspired cryptocurrency has recently reclaimed its spot on the top 10’ most purchased tokens among the 1,000 biggest whales on the Ethereum network, currently sitting behind Ethereum’s $ETH, leading stablecoins, and Chainlink ($LINK), Polygon ($MAITC), and Fantom ($FTM).

Whales are accumulating SHIB shortly after the developers behind the project revealed they plan to release 99,000 plots of land in the Shiberse, the cryptocurrency’s upcoming Metaverse. 35,000 of those plots will be sold to $LEASH token holders.

The price of land on Shiberse is set to vary according to its location, with land closer to the center of the park – a dog park at the center of the cryptocurrency’s metaverse – costing more.

LEASH token holders will be given early access to the plots of land through a dedicated portal through which they can buy land. Users must lock their LEASH holdings to be able to access the sale, with the lock-in period being shorter if they lock up more tokens.

Earlier this month Shytoshi Kusama, the cryptocurrency’s community leader, announced that Shiba Inu was partnering with a burger restaurant with one physical outlet in Italy, Welly’s, to launch what was described as the “first and only SHIB themed restaurant powered by the community.”

The meme-inspired cryptocurrency has also seen Singapore-based blockchain solutions provider Unification, a company that has worked with firms like Google and Amazon, announce it has been working with the Shiba Inu community to develop Shibarium.

Shibarium, it’s worth noting, is a layer-two network built on top of the Ethereum blockchain meant to support the Shiba Inu ecosystem. It’s set to enable “rapid low cost transactions optimized for gaming.” Unification is planning on launching a public testnet for the network “very soon” according to its announcement.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.


Featured image via Pixabay