Shiba Inu saw strong and reassuring growth in the average transaction size metric, signaling the increasing presence of whales on the market. With the growth of this metric, we are more likely to see an increase in the overall amount of large transactions and a subsequent growth in market volatility.
Over the last seven days, SHIB has seen an impressive rise in average transaction size, reaching $25,339 with a high of $42,860. There could be major ramifications for price action and overall market dynamics as a result of this increase, which suggests that bigger players are becoming more involved in the Shiba Inu market.
SHIB/USDT Chart by TradingView
A significant amount of variability was observed during this period, with the lowest average transaction size being $8,023. This underscores the continuous changes in investor behavior. Additionally, this pattern is reflected in the average balance in SHIB wallets. The average balance over the last week has been roughly $18,983, with a high of $20,442 and a low of $18,032.
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The average balance appears stable, indicating that larger holders are holding onto their positions despite occasional fluctuations. This can serve as a strong basis for future price movements. There has also been a noticeable increase in the quantity of big transactions. There have been 361 large transactions in the last 24 hours alone, with a seven-day high of 584 transactions and a low of 102.
This action emphasizes even more the major players' increasing involvement in the SHIB market. A seven-day high of 11.65 trillion SHIB was reached by the total volume of large transactions, which indicates significant liquidity and market activity. The volume of large transactions reached 6.93 trillion SHIB in the prior day. Increased market volatility is to be expected as whales continue to accumulate and trade larger quantities of SHIB.