In a seismic shift within the Shiba Inu (SHIB) ecosystem, the past 48 hours have seen an unparalleled surge in on-chain dynamics as whale transactions involving the token skyrocketed by a staggering 498%.
Shiba Inu, a popular token in the cryptosphere, is making waves with a surge in transactions valued at $100,000 and more, according to on-chain analytics platform IntoTheBlock.
During this dizzying period, whale transactions pumped a whopping $40.93 million into SHIB, exchanging an epic 5.1 trillion tokens. This increase has brought the total daily transactions to a staggering 6.38 trillion tokens, equivalent to a staggering $51.71 million.
This increase in on-chain activity coincided with a notable price rally for SHIB. After a brief setback that saw the token experience an 8.2% loss on Tuesday, it recovered impressively, gaining 6% over the next two days.
This resurgence pushed SHIB’s value back above the critical threshold of $0.000008 per token, reigniting optimism among the Shiba Inu community.
Investors and enthusiasts are now closely watching whether this rally in on-chain transactions is a precursor to sustained positive momentum for SHIB. The main questions that arise are whether the token’s price recovery will persist and whether it can fully recover from the losses suffered on Tuesday.
The increase in whale transactions suggests renewed interest in SHIB, leading to speculation about possible future developments and positive market sentiment.
The next few days will be crucial in determining whether Shiba Inu’s new momentum is a temporary phenomenon or the beginning of a sustained uptrend.
