Shiba Inu (SHIB), one of the most popular meme-inspired cryptocurrencies, has experienced unprecedented activity from large holders (whales) over the past 24 hours.
Introduction
According to IntoTheBlock data, the volume of large transactions involving Shiba Inu tokens has increased by more than 282.8% over the past 24 hours. This led to a total of 1.97 trillion SHIB in large transactions amounting to $25.81 million.
Reasons for Activity Surge
In total, there were 45 such large transactions, meaning the average volume transacted by a Shiba Inu whale in the last 24 hours was 43.77 billion SHIB—or about $574,700. This is five times higher than usual, which could indicate major players are taking an interest in the Shiba Inu market.
Current Market Situation
Yesterday, amid a sharp collapse in the crypto market, the SHIB price lost 5.99% of its opening price, reaching a bottom of $0.0000124, a level not seen since early August. However, this dip was quickly bought back, and the price of the Shiba Inu token returned to the $0.000013 level. It can be assumed that the surge in large transactions occurred at this dip and subsequent buyback.
Whale activity in the Shiba Inu market underscores the interest of large investors in this cryptocurrency, especially amid current market volatility.
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