The trend of the Shiba Inu Coin whale: the secret of the 24-hour operation of 1.55 trillion SHIB
Recent on-chain data reveals that Shiba Inu Coin SHIB has shown alarming uncertainty in its three consecutive weeks of price decline. This uncertainty is reflected by the huge transaction volume of SHIB coins in the Shiba Inu coin network. IntoTheBlock’s latest on-chain statistics show that some notable Shiba Inu coin whales are making waves in the past 24 hours.
IntoTheBlock counts and evaluates transactions over $100,000. In the previous 24 hours, these large holders moved a whopping 1.55 trillion SHIB tokens, a number that is a positive indicator for monitoring the market sentiment of whales.
As a meme cryptocurrency, SHIB has suffered a significant drop in price recently. Its price briefly fell below $0.0000165, its lowest level since March this year. This decline reflects the current pessimism among many cryptocurrencies, especially meme coins like SHIB.
According to the analysis of ITB blockchain data, it was during this downturn that some whale-level wallets were conducting a large number of SHIB transactions. In the past 24 hours, more than 1.55 trillion Shiba Inu coins worth approximately US$26.6 million at current prices have been included in large transactions. The operations of these giant whales not only reveal their firm confidence in Shiba Inu Coin, but also indicate that the market may be about to usher in a new turn.
Looking back at the trading data of the past week, it is not difficult to find that SHIB did not experience significant trading fluctuations in just one day. Prior to this week, SHIB had reached a total of US$320.16 million in major transactions. Especially during the 24-hour period ending on June 24, a large number of SHIB tokens were traded, with a total of 6.43 trillion, making this number the highest this week. This may be a positive result of those "giant whales" accurately judging market trends and taking decisive action.
We have established the best information network in the entire network, share our experience and strategies, check the top and follow the bull market deployment, whether it is the slow bull stage or sector rotation, we will never fail.
