Most growth indicators in Shiba Inu (SHIB) are now showing green numbers, pushing the price of the second-largest meme coin up significantly.

According to cryptanalytic platform IntoTheBlock (ITB), Shiba Inu's large transaction volume increased by 220.57% in the last 24 hours, reaching $141.7 million.

Evaluating this rise against ITB's definition of "large transactions" (transactions valued at more than $100,000), there is a significant jump in two days. The number of such transactions increased from 164 on March 26 to 418 on March 25.

It is also worth noting that SHIB's estimate of the surge in large transactions increased from 1.59 trillion tokens on March 26th to 4.79 trillion tokens on March 25th. As the meme coin is associated with Shiba Inu whales, the dollar value of major transactions also increased from $44.2 million to $141.7 million.

Shiba Inu whales have always played an important role in increasing the price of Shiba Inu. This notable uptick in large transactions comes at a time when Shiba Inus are poised for a significant recovery overall. At the time of writing, Shiba Inu is trading at $0.00002966, up 6.56% over the last 24 hours.

Given that Shiba Inu continues to maintain a positive trend after removing one zero from its price, it remains in a relatively favorable direction overall. Despite the decline caused by the latest negative developments in the market, it still shows an increase of 18.37% over the past week.

Shiba Inu is preparing to retest the $0.00003 level after falling from that level on March 16. With more green readings, SHIB may be on track for a sustained bullish breakout.