Shiba Inu’s Large Transactions Skyrocket Over 400%

  • The volume of large transactions involving Shiba Inu surged by over 400% in the past 24 hours.
  • Significant growth in large transactions was observed, increasing from 1.4 trillion SHIB to 6.11 trillion SHIB.
  • Despite a 7% decline in SHIB’s price within 24 hours, some major SHIB holders perceived it as a discount and augmented their positions.

The past 24 hours have witnessed a staggering surge in the volume of significant transactions involving Shiba Inu (SHIB). Data reveals an astonishing 400% increase in the volume of these large transactions. 

Read CRYPTONEWSLAND on Google News google news

From 1.4 trillion SHIB, the volume escalated to a remarkable 6.11 trillion SHIB within this short span, representing an exponential rise. Delving into the monetary aspect, the surge translates into a substantial jump from $42.75 million to $171.74 million, marking a staggering 401.7% increase. 

The sheer magnitude of this spike in transaction volume is further highlighted by the emergence of 276 large transactions, a significant increase of 119 transactions compared to the preceding day. This surge in transaction activity is intricately tied to the price fluctuations witnessed in the Shiba Inu token. 

Notably, the token experienced a significant decline, with its value plummeting by almost 7% within the last 24 hours. This downward trajectory persists, culminating in an overall decline of nearly 15% since the week’s commencement. Presently, SHIB is trading at $0.0000262.

The dynamic interplay between market forces, notably bulls, bears, and whales, underscores the intricate nature of the cryptocurrency landscape. While the decline in SHIB’s price prompted some significant players to offload their holdings, others perceived it as an opportune moment to bolster their positions, viewing the price dip as a discounted entry point.

Read also:

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

related posts