After a recent period of volatility in the cryptocurrency market, Shiba Inu (SHIB) is showing recovery with a 12% growth. Meanwhile, the community is discussing significant changes.
SHIB Price Increase and Whale Activity
According to CoinMarketCap data, Shiba Inu was trading at $0.00001368, reflecting a 5.77% increase as of this writing. This rise is linked to the increase in large transactions which indicate promising future prospects. Whale activity has surged, with transactions growing over 525% in the last 48 hours, with many deals valued between $1 million and $10 million.
Criticism of SHIB President Election Proposal
Shiba Inu developer Kaal Dhairya expressed his intention to strengthen community unity after external pressures. However, his proposal for electing a SHIB president has faced criticism. Community members believe that restoring trust in the meme coin is more important than elections.
Possible Consequences of Low Trading Volume
Despite efforts to increase the burn rate of tokens, trading volume in the last 24 hours remained at $228.63 million, 28.44% lower than before. This low volume could negatively impact Shiba Inu's upward trajectory and halt the bullish trend.
Shiba Inu is showing signs of recovery, but low trading volume may affect future growth prospects. Issues surrounding community proposals remain a topic of debate.
