June 28 (Cointime) - Over the past hour, a massive 8.8 billion Shiba Inu tokens have been transferred between various wallets, including those belonging to major exchanges Binance and Gate.io.

This has caused a 2% increase in the SHIB price, which is now trading at $0.00000740 on Binance. The transactions involved five transfers, with a minimum of 1.2 billion SHIB and a maximum of 2.4 billion SHIB in each. Meanwhile, a member of the SHIB team named Lucie has explained on Twitter why she believes the token BONE will experience a significant price surge once Shibarium mainnet is launched later this year.

Lucie cites increased demand, essentiality and utility, limited token supply, network effect, and investor confidence as the main reasons for the potential price jump.