SHIB has recently been making headlines with its bullish pattern in its on-chain data. The enthusiasm following the bullish sentiment has been about the price pattern rather than a sharp increase in value. Shiba Inu has demonstrated stability on the network despite the difficult market situation, indicating low volatility and positive price activity. SHIB is currently trading at $0.000017 with a market cap of $10.13 billion.
Given the massive transactions made by whales in the past few days, it appears that they are still using the token and may be gearing up for a price recovery in the near term. Based on on-chain data, Shiba Inu has seen around 147 high-volume transactions totaling over 2.34 trillion SHIB on the network in the past 24 hours.
While these numbers do not match the six trillion SHIB traded in late October, the high-value transaction volume shows that whales are still trading SHIB and are involved in the market. This could indicate that even in this calmer period, they see potential value and are accumulating SHIB at current levels.
