In a recent turn of events, the Shiba Inu token (SHIB) has seen an unprecedented surge, catapulting a staggering 540% in a key on-chain whale statistic. According to data provided by In the blockThe volume of large transactions involving SHIB has skyrocketed exponentially since the week began, marking a monumental jump from 1.24 trillion tokens to a staggering 6.68 trillion in a span of just two days.
In a recent turn of events, the Shiba Inu token (SHIB) has seen an unprecedented surge, catapulting a staggering 540% in a key on-chain whale statistic. According to data provided by In the blockThe volume of large transactions involving SHIB has skyrocketed exponentially since the week began, marking a monumental jump from 1.24 trillion tokens to a staggering 6.68 trillion in a span of just two days.
Surprisingly, this astronomical growth translates into a notable increase in dollar terms, going from $11.93 million to a substantial $70.45 million, highlighting a notable 590% increase. The rise in large trading volume, encompassing transactions of at least $100,000, underscores a significant uptick in investor activity, with a notable tally of 297 transactions recorded during the period under scrutiny, 175 of which occurred in the last 24 hours.
A noteworthy aspect of this increase lies in the disparity between volume and dollar terms, with the latter witnessing a more pronounced escalation. This phenomenon can be attributed to the notable rise in the price of SHIB, which soared by more than 20% during the period under review.
The meteoric rise of the Shiba Inu token is not an isolated event, but rather reflects a broader trend of rising meme-based cryptocurrency quotes. Along with SHIB’s exponential growth, other notable tokens like PEPE saw a staggering 95% surge, DOGE saw an 11.63% surge, and BONK surged 16%, underscoring a widespread craze in the meme coin market. .
