Shiba Inu: What Investors Need to Know About $3M+ Whale Behavior

Shiba Inu [SHIB] Trading volume jumped 49.14% in the last 24 hours. This increase could be a result of recent large deals.

Based on information from Etherscan, one of the top 100 ethereum [ETH] Whales made two big deals within the aforementioned period.

The Ethereum Block Explorer also revealed that the two transactions totaled $3.4 million.In the first transaction, the whale forwarded 200 billion SHIB tokens to another wallet. After that, another 100 billion SHIB Arrived in the same wallet.

What are the conditions?

Despite the impressive volume record, the impact on the SHIB price was not evident. According to CoinMarketCap, SHIB is transaction At $0.00001125 on the press. This value represents a rise of 2.33% against ETH, tether [USDT].

While the trade may not have been enough to lead SHIB to double-digit gains, it has been effective in other areas. moved SHIB the accumulated rank of ETH whales daily.

Now, SHIB investors may rejoice in the fact that memes are back. On Press, WhaleStats Indicated This SHIB was sixth in the standings, amassing over $1.37 million in the last 24 hours. Overall, ETH Whales’ holdings of SHIB tokens reached $137.45 million.

On-chain analysis

Whether or not this accumulation excites retail investors, other indicators have a role to play. According to the 30-day Market Value to Realized Value (MVRV) ratio, not yet time for stable greens. Her MVRV ratio for SHIB was -3.30%, according to Santiment.

In this position, there was absolutely no chance that SHIB would achieve double its current value. Unfortunately, SHIB’s social advantage was 0.66% at the time of writing.this state suggestive The asset has been poorly traded among investors among most retailers.

Of course, that could be the impact of market drawdowns. Still, SHIB may not take advantage of the whale effect to rise given its dominance.

Meanwhile, SHIB’s social volume showed an increase in token searches and not a complete decline in interest.

Source: Santimento

Moreover, improving social volume did not guarantee improved near-term momentum. Now, exchangethe influx of SHIB was at a very low point after a spike on September 12th.