Shiba Inu (SHIB) Soars 1,100% on Epic Whale Surge

Shiba Inu (SHIB) Soars 1,100% on Epic Whale Surge

In an unprecedented surge in whale activity, Shiba Inu (SHIB) has witnessed a staggering 1,100% increase in transactions involving massive volumes of the token. Data of In the block reveals that in the last 24 hours, whale transactions involving SHIB have skyrocketed, reaching a staggering $84.86 million.

In an unprecedented surge in whale activity, Shiba Inu (SHIB) has witnessed a staggering 1,100% increase in transactions involving massive volumes of the token. Data of In the block reveals that in the last 24 hours, whale transactions involving SHIB have skyrocketed, reaching a staggering $84.86 million.

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Shiba Inu (SHIB) Consumption Rate Rises 543% Defying SHIB Price Drop

In this short period of time, a staggering total of 10.36 trillion SHIB tokens exchanged hands across 57 transactions, each of which exceeded $100,000. This increase is in stark contrast to the previous day’s figures, where only 12 transactions involving large volumes of SHIB occurred and the total token volume did not exceed one trillion.

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Fountain: In the block

What makes this surge even more intriguing is that it occurs amidst fairly subdued price action for the Shiba Inu token. Even though market-wide conditions led to a nearly 5% drop in the value of SHIB in the last 24 hours, with prices falling below $0.000009 per token, there is notable resistance. Notably, during this fall, SHIB price failed to re-reach the local low set by the previous Friday’s drop to $0.00000879.

Is the Shiba Inu bottomed out here?

That day, on-chain data revealed significant whale activity, with 5.15 trillion SHIB tokens exchanged in large transactions. If we fast forward to the last 24 hours, this volume has almost doubled. The question now hanging in the air is whether the current SHIB price levels have bottomed out, prompting whales to double down on their token purchases in this zone.

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No SHIB and BONE airdrops: Shiba Inu community receives urgent warning

As the market speculates on the implications of this surge in activity, the Shiba Inu community is wondering: Has SHIB finally bottomed? Are whales signaling a bullish reversal?

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