Tue, October 3

Shiba Inu Whale Movements Skyrocket 197% Amidst Rising Transactions: What’s Happening?

Shiba Inu Outlines Key Shibarium Focus Areas As Adoption Swells Altcoin News
  • Notable surge in Shiba Inu’s market activity: Transactions exceeding $100,000 rose by 197% in the last 24 hours, totaling $12.54 million.
  • Large-holder net flows on the rise: In the past week, a significant 326% increase in net flows suggests changes in whale and investor positions.
  • Shiba Inu price rebounds and Shibarium beta bridge launch: SHIB’s price climbed after hitting a low of $0.0000077 on July 26.

Shiba Inu’s market has seen notable activity from larger holders, with a 197% increase in transactions exceeding $100,000 over the last 24 hours, as reported by IntoTheBlock, an on-chain analytics service. The total value of these large transactions amounted to $12.54 million on the previous day, showing a substantial surge in comparison.

Such increases in transaction volume often reflect significant actions taken by whales, whether buying or selling, given the insights they provide into on-chain behavior.

Shiba Inu large holder inflow surge

In the past week, there has been a significant 326% rise in large-holder net flows, indicating changes in the positions of both whales and investors. These netflow surges could be interpreted as accumulations by larger holders or whales.

Shiba Inu’s price experienced a rebound, climbing from its recent low of $0.0000077 on July 26. At the time of publication, SHIB was slightly up, trading at $0.00000788, reaching intraday highs of $0.00000794.

Amidst recent market activity, the Shiba Inu community celebrated the launch of the Shibarium beta bridge. This new cross-chain protocol enables users to transfer assets from the ETH network to the Shibarium network and facilitates the deposit and withdrawal of assets between the two networks. The beta launch allows the public to test the bridge’s functionality and report any issues or bugs they encounter.

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