Data from IntoTheBlock reveals a remarkable surge in large transactions involving Shiba Inu (SHIB), the popular meme cryptocurrency, with a 165% increase in the past 24 hours. Transaction volume skyrocketed from 3.73 trillion SHIB to 6.18 trillion SHIB within this period.
In monetary terms, this surge translated to a rise in transaction volume from $82.69 million to $138.2 million. Notably, 241 transactions of significant size, amounting to at least $100,000 each, occurred during this timeframe.
Source: IntoTheBlock
The data further indicates that the majority of large SHIB transactions over the past 24 hours stemmed from inflows to whale wallets. Inflows to wallets holding at least 0.1% of the circulating supply of SHIB totaled 2.44 trillion, surpassing outflows which amounted to 2.26 trillion SHIB.
Source: IntoTheBlock
Consequently, large holders' netflow for Shiba Inu during this period reached 180.46 billion SHIB, marking a 130% increase from the previous day. This significant movement of SHIB among whale wallets signals heightened market activity and engagement within the SHIB ecosystem.
As one of the most popular meme cryptocurrencies, the surge in transaction volume for SHIB raises questions about its potential implications on the market. Market participants are closely observing developments within the SHIB ecosystem to assess the impact of these heightened whale transactions on Shiba Inu's future trajectory.
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Sanya
Bitcoinworld“I’m just a nonentity typing on a keyboard, I’m replaceable. I’m Ryoshi,” the Shiba Inucoin founder previously said.
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