Shiba Inu Soars 924%: Whale Activity Drives SHIB to New Highs!

September 27, 2024

6th Trade

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has seen a massive 924% increase in inflows from large holders, which is a strong indicator of whale activity. This dramatic increase in whale-held addresses has caught the market’s attention as SHIB breaks through key price levels.$SHIB

SHIB

0.00002046

+6.5%

The large inflows from holders suggest significant buying activity, as many whales tend to purchase SHIB on centralized exchanges and then transfer their holdings to cold storage wallets. Data from IntoTheBlock reveals that between September 25 and 26, large inflows from Shiba Inu holders skyrocketed from 603.55 billion SHIB to an incredible 3.79 trillion SHIB, marking a jump of 924.75%.

After a period of price consolidation, SHIB’s value surged, breaking critical resistance levels and signaling a bullish trend. This price breakout was supported by increasing buying pressure from both retail and institutional investors, largely driven by increased whale activity. In the last 24 hours alone, Shiba Inu saw a 372.6% increase in large transaction volume, totaling $169.27 million (or 9.07 trillion SHIB), according to IntoTheBlock.

Shiba Inu Soars Amid Whale Flurry

During yesterday’s trading session, the price of Shiba Inu increased significantly, which has continued today, with SHIB reaching a high of $0.00001976. At the time of writing, SHIB is up 17% in the last 24 hours, trading at $0.00001974.According to Santiment data,😉😉