What Are Shiba Inu Whales Doing With 1.55 Trillion SHIB in 24 Hours?
On-chain data shows astonishing uncertainty about Shiba Inu throughout the three-week price fall. The enormous Shiba Inu network transaction volume of SHIB coins shows this on-chain statistics. The newest on-chain statistics from IntoTheBlock shows significant Shiba Inu whales making waves during the previous 24 hours.
IntoTheBlock counts and values transactions above $100,000. The preceding 24 hours saw significant holdings move 1.55 trillion SHIB tokens, a good statistic for monitoring whale sentiment.
Shiba Inu Whales Moving
The meme cryptocurrency Shiba Inu (SHIB) has plummeted in price in recent weeks. The coin fell below $0.0000165, its lowest level since March. This drop reflects the pessimistic attitude across numerous cryptocurrencies, particularly meme coins like SHIB.
ITB blockchain data shows whale wallets making large SHIB transactions during this slump. Over 1.55 trillion Shiba Inu tokens (worth $26.6 million at current prices) qualified for the big transaction cohort in the previous 24 hours.
Dialing transaction data backwards demonstrates this wasn't a single day of significant transactions. In the previous week, SHIB has made $320.16 million in significant deals. In the 24-hour period ending June 24, significant holdings traded 6.43 trillion SHIB, the most this week.
Average investors may find SHIB whale trades promising and concerning. Crypto whales are large cryptocurrency investors. They have enough money to trade and affect market pricing. Shiba Inu (SHIB) whales are similar.
Such massive transfers may indicate that whales are selling amid the market decrease. This may be true for some whales, but not all. These whales may also perceive the recent Shiba Inu fall as a buying opportunity. By buying billions of tokens cheaply, they may be hoping to build a large holding for a comeback.
The last 24-hour price movement implies the latter. The SHIB price is up 1.5% at the time of writing.
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