The popular cryptocurrency Shiba Inu (SHIB) has garnered attention due to a significant rise in the volume of large transactions over the past 24 hours.
Transaction Volume Increase
According to IntoTheBlock, Shiba Inu's large transaction volume surged by 287% in the past day. In dollar terms, this represents an increase from $5.3 million to $14.55 million, indicating substantial whale activity.
Analysis of Large Transactions
In total, there were 49 large transactions, each worth at least $100,000. On average, a single transaction involved about 22.45 billion SHIB, approximately equivalent to $296,000, more than three times the average size.
Potential Implications
The increase in whale activity might suggest that the current price point of SHIB is attractive to large investors. However, this trend can change quickly, so it is crucial to remain solvent longer than the market misprices SHIB.
The data analysis reveals a substantial rise in Shiba Inu whale activity, which could indicate their interest in the current price of the cryptocurrency.
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