Recent data highlights significant shifts in Shiba Inu activity, leading to a price increase amid reduced large transactions.
Large Activity in Shiba Inu
According to IntoTheBlock, Shiba Inu recorded 5.72 trillion SHIB in large transaction volume over the past 24 hours. However, this marks a 70.55% decline compared to previous days, indicating a change in market dynamics.
Market Reaction to Changes
During this period, the price of Shiba Inu increased by 8% to $0.000025. This price rise despite decreased whale activity suggests strong demand from retail investors. Market attention is drawn to recent Shiba Inu ecosystem developments, including new partnerships and technical updates.
Shiba Inu Burn Rate Increase
The Shibburn website reports a 114% surge in Shiba Inu's burn rate over the past 24 hours, driven by the removal of 14,750,296 SHIB from circulation. The burning process may contribute to increasing the cryptocurrency's value by reducing its total supply.
Shiba Inu continues to gain attention in the crypto market, with current changes potentially impacting its future price dynamics.
