SHIB on-chain activity surges 514% as whales move trillions of tokens
Shiba Inu cryptocurrency sees a 514% increase in on-chain activity as whales move billions of SHIB.
In a remarkable change of events, the Shiba Inu coin has skyrocketed in on-chain activity, increasing by 514% in the previous 24 hours alone. This disclosure stems from data given by IntoTheBlock, which sheds light on a sudden surge in significant transactions utilizing SHIB.
The amount of these large transactions with SHIB increased from 544.71 billion to 2.82 trillion tokens, resulting in a tremendous increase in USD value from US$4.88 million to US$25.05 million. Notably, IntoTheBlock only considers transactions worth more than US$100,000 in this research, and there have been 33 of them in the last day.
This rise follows a protracted period of low activity among whales in the Shiba Inu token ecosystem. Following a dramatic fall in late January, significant SHIB transactions came to a standstill for about a week. However, it appears that this respite was just momentary.
All Eyes on SHIB
With the return of key actors to the Shiba Inu network, investors are now focused on the price trend of SHIB. Observers notice that SHIB has been in an accumulation phase for the previous two weeks, with low volatility and generally ordinary price fluctuations.
However, the reappearance of notable investors points to probable seismic adjustments in the SHIB price soon.
As the crypto market prepares for what could be a huge shift in Shiba Inu fortunes, investors are on the edge of their seats, waiting for the next big move in a more compelling digital asset universe.
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