#Shiba Inu Price: Will 500% Surge in Whale Activity Lead to an Imminent SHIB Rally?
Shiba Inu (SHIB) has been bullish over the previous 24 hours, despite starting the day with negative momentum. However, bullish momentum faded after failing to break through the intra-day high of $0.00000892, causing a fall to $0.000008842 by press time, a 0.19% drop from the day’s high.
Shiba Inu’s Whale Activity and Burn Rate
Concurrently, Shiba Inu has had an uptick in whale activity and burn rates, signalling a vibrant period of transactions and potentially setting the stage for a rally.
According to IntoTheBlock’s data at CMC transactions exceeding $100,000 increased, escalating from 544 billion SHIB tokens to 2.82 trillion within 24 hours.
This leap represents a more than 500% increase in transaction volume, moving from a valuation of $4.88 million to $25 m
