Shiba Inu (SHIB) Experiences Meteoric Surge With Whales Returning to the Ecosystem
In a stunning turn of events, the Shiba Inu token witnessed a meteoric rise, surging an astonishing 514% in activity on the chain in the past 24 hours. This revelation comes from data provided by IntoTheBlock, shedding light on the sudden influx of significant transactions involving SHIB.
The volume of these large transactions with SHIB soared from 544.71 billion to 2.82 trillion tokens, translating into a substantial increase in the USD value from $4.88 million to $25.05 million. It’s noteworthy that IntoTheBlock considers transactions exceeding $100,000 in this analysis, and in the past day, there were 33 such transactions.
This surge follows a prolonged period of minimal whale activity within the ecosystem, lasting nearly two weeks. However, this apparent calm appears to have been only temporary.
With key players returning to the Shiba Inu network, attention is now focused on the price trajectory of SHIB. Observers note that SHIB has been in an accumulation phase over the past two weeks, characterized by weak fluctuations and relatively insignificant price movements.
All eyes are on SHIB as prominent investors returning to the Shiba Inu network signal potential seismic shifts in the near future.
SHIB Price Outlook
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While the cryptocurrency market braces for what could be a significant disruption in Shiba Inu’s fortunes, investors are on the edge of their seats, anticipating the next major move in the increasingly captivating digital asset landscape.
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