In a surprising turn of events, the Shiba Inu (SHIB) community is witnessing an unprecedented surge in whale activity, marking a momentous leap towards the elusive goal of erasing a zero from the token’s price. Data from IntoTheBlock reveals that in the last 24 hours, whale transactions involving SHIB have skyrocketed, increasing by a staggering $56.45 million, a notable increase of 651%.
In a surprising turn of events, the Shiba Inu (SHIB) community is witnessing an unprecedented surge in whale activity, marking a momentous leap towards the elusive goal of erasing a zero from the token’s price. Data from IntoTheBlock reveals that in the last 24 hours, whale transactions involving SHIB have skyrocketed, increasing by a staggering $56.45 million, a notable increase of 651%.
This sudden surge in whale movement has resulted in a staggering total of 5.9 trillion SHIB tokens exchanged in just 18 transactions, each exceeding $100,000. While the number of transactions may seem relatively small, the volume involved is nothing short of extraordinary.
Shiba Inu (SHIB) Price in Action
Meanwhile, SHIB price continues to hover around the crucial threshold of $0.00001, attracting the attention of enthusiasts and traders alike. The removal of a zero from the price of the Shiba Inu token has been a central topic within the community for weeks. Although SHIB achieved this milestone in the short term, maintaining momentum proved challenging, causing the token to retrace to five zeros after the decimal point.
The difficulty lies in the fact that concentrations of Shiba Inu tokens above $0.00001 are causing losses to holders. IntoTheBlock reports a whopping 580.51 trillion SHIB concentrated in 328,050 wallets in the range of $0.00001 to $0.000019, more than half of the total token supply.
For the SHIB price to not only clear a zero but rise further, it becomes imperative to absorb this massive volume.
