Shiba Inu, the popular memecoin, has been making waves in the crypto world, with a recent historic transaction worth $40 million.

The transaction, made by a mysterious Shiba Inu whale, raised questions about whether it might be an internal exchange transaction.

Nonetheless, it has created an impact on the industry, with a total SHIB transaction volume of $175 million in the past week, according to IntoTheBlock.

Following the massive transaction, SHIB’s leading developer, Shytoshi Kusama, revealed that the Shibarium layer-2 network could launch in the next two to four months, providing relief to users who have seen several delays. Kusama also hinted at some secret projects the team is working on, including UI design.

Meanwhile, the SHIB community has been burning tokens, with 1.4 billion SHIB tokens burned in a single transaction by a whale in the last 24 hours, and 250,000 tokens transferred to the dead wallet. In the last seven days, the SHIB community burned 1.8 million tokens, a 40.76% decrease from the previous week.

At the time of writing, SHIB’s trading price is around $0.00001095, with a decrease of 5.22%. However, the trading volume of the coin has increased by 18.52% to $278,223,092 in the last 24 hours, according to CoinMarketCap.