After being inactive, now the Shiba Inu Whale seems to be starting to move
Shiba Inu (SHIB) managed to survive the crypto market downturn and managed to show extraordinary resilience compared to other cryptocurrencies. Even though the SHIB price experienced a downtrend, the meme asset ecosystem is showing signs of vitality, especially in whale activity and growing adoption of the Shibarium protocol.
"Before continuing, you should first follow our YouTube channel "@ideuang" so that we can continue to be enthusiastic about sharing information, keyword "@ideuang" in your YouTube application search.
According to Whalestats, whale activity increased by 48 percent. Specifically, the total number of large transactions (those with a monetary value of at least US$ 100,000) on the Shiba Inu protocol has jumped from 11 on September 9 to 31 at the time of writing this article. These whale transactions include a cumulative amount of US$ 10.96 million, which significantly contributes to the overall trading volume of the meme coin ecosystem.
The increase in whale activity has had a significant impact on SHIB trading volume, which is up only 1.8 percent in the last 7 days.
Could Shiba Inu Reach a Price of USÂą10?
It cannot be denied that Shiba Inu's rise has been impressive, especially during 2021 when it became one of the top cryptocurrencies. His journey was marked by broader market trends, where even unconventional stocks and assets saw unexpected rallies.
However, the situation has changed since then, with Shiba Inu currently hovering around 92 percent below its peak value. With fans' expectations regarding a spectacular comeback at 13,760,000 percent, it is important to evaluate the reality on the pitch.
Shiba Inu, while built to be more versatile than its predecessor, Dogecoin, has yet to capitalize on its potential much. Its compatibility with strong networks promises possibilities, but current adoption rates remain underwhelming.Â
