Shiba Inu On-chain data shows a substantial increase in whale-level transactions, with an increase of almost 7% in the last 24 hours. SHIB transaction volume exceeded $8 trillion, making the network much more active than last time. week.
Shiba Inu On-chain data shows a substantial increase in whale-level transactions, with an increase of almost 7% in the last 24 hours. SHIB transaction volume exceeded $8 trillion, making the network much more active than last time. week.
Large transactions worth more than $100,000 have increased dramatically in number. There were 140 such transactions the previous day, suggesting a resurgence of interest and potentially calculated actions by major investors, or whales. The seven-day low of 99 transactions is drastically different from this rally, indicating a change in market dynamics.
Whales may be accumulating SHIB in preparation for future price changes. This could be a calculated move to acquire a sizable stake in the token while values are believed to be favorable.
Large volume purchases may result from growing interest from institutional investors as they begin to recognize Shiba Inu’s potential.
Tomiwabold OlajideThe increase in activity may also be a result of impending announcements or developments related to Shiba Inu and Shibarium. This includes information on new initiatives, collaborations and technological advances within the SHIB ecosystem.
High interest is usually indicated by an increase in large transactions and trading volume, which can cause notable price fluctuations. As can be seen from the technical analysis, Shiba Inu is currently consolidating around its major support levels. SHIB appears to be holding steady, based on the 50- and 100-day moving averages, but the increase in trading volume could force the token to test new resistance levels.
Overall, the lack of volatility is a bigger problem for SHIB right now and will most likely become a source of pent-up performance, rather than growth.
