Shiba Inu Whale Sales Jump 300% Last 24 Hours: Can SHIB Reach $0.00004?

In the last 24 hours, whale activity has increased in Shiba Inu (SHIB), a popular meme coin. On-chain analytics tool IntoTheBlock reports a 300% rise in whale transactions in 24 hours.

That Shiba Inu investors took profit after days of fall makes this whale activity increase more significant. It raises the question of whether the Shiba Inu price may recover and reach new highs.

After Decline, Shiba Inu Whale Activity Rises
IntoTheBlock data shows a curious Shiba Inu whale activity pattern in recent weeks. This unusual rise in Shiba Inu whale behavior is shown by the platform's “Large Transactions” measure, which tracks transactions above $100,000.

Since December 7, the meme coin's price has fallen, reflecting minimal whale activity. December 10 saw 18.85 trillion SHIB token transactions on Shiba Inu. This amount declined 94% to 1.07 trillion SHIB on December 22, indicating little whale activity in recent days.

The previous 24 hours have seen whale activity and significant transactions change. IntoTheBlock reports a 250% spike in big transactions to 3.75 trillion SHIB tokens in 24 hours. This resurgence includes token volumes and transaction values. In the previous 24 hours, major transactions totaled $84.24 million, up 265% from $23.06 million.

Increased whale activity: Can SHIB Reach $0.00004?

The dramatic increase in whale activity raises various issues concerning its cause. Large holders may be reacquiring SHIB tokens in expectation of a market revival in 2024.

Shiba Inu is up 3.1% in 24 hours to $0.00002229. Despite its modest growth, Shiba Inu's selling pressure has changed in the previous week.

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