- Shiba Inu whale activity has increased by 987% as per data from IntoTheBlock.
- Top-tier SHIB wallets moved almost $70 million worth of Shiba Inu on Friday alone.
The recent update by Whale Alert, a blockchain tracker implies that recently, a large sum of Shiba Inu changed hands between two unknown digital wallets. This move is worth a phenomenal $32,142,200. This week is the seventh time an unknown whale has transferred a gigantic mass containing 3.5 trillion Shiba Inu.
🚨 🚨 4,544,030,677,374 #SHIB (32,142,200 USD) transferred from unknown wallet to unknown wallethttps://t.co/Y7jvL2qtJV
— Whale Alert (@whale_alert) October 21, 2023
On Friday, October 20, two payments were made that were quite identical. In addition, on October 16 and 17, this week, Whale Alert discovered 3.5 trillion SHIB transfers. The community at large pondered in the comments section the motivations behind these massive crypto exchanges.
Whales in Action
Additionally, earlier IntoTheBlock, an on-chain data source, revealed that Shiba Inu whale activity has increased by a staggering 987%. This is associated with a rise in the amount of SHIB transactions; top-tier SHIB wallets moved almost $70 million worth of Shiba Inu on Friday alone.
Consistent with the aforementioned data, numerous more big transactions totaling over $61 million were also pushed by anonymous blockchain addresses on Friday. This amounts to nearly 9 trillion SHIB.
Large transaction volume is a useful indication since it may be used to approximate the total amount that whales traded in a given day. A rise in the number of really big transactions may be indicative of increasing activity by whales in the market. Thus leading to high volatility.
At the time of writing, SHIB is trading at $ $0.000007003, up 0.11% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 28.74%.
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