Shiba Inu (SHIB), known for its dog-themed branding, has recently experienced a remarkable surge in whale activity, indicating significant movements of large SHIB tokens. This surge comes after SHIB’s price decline of over 10% over the last seven days.
Whale activity, often a key indicator of market sentiment and potential price movements, saw a staggering 268% increase in the case of Shiba Inu. Large transaction volume, typically involving transactions worth more than $100,000, surged to $98.12 million within 24 hours.
This surge highlights a significant uptick in whale activity, suggesting that large holders of SHIB tokens are actively buying or selling.
Dramatic Increase in SHIB Large Transactions
According to data from IntoTheBlock, the volume of large transactions in Shiba Inu saw a dramatic increase from 1.07 trillion SHIB on April 28 to 4.17 trillion SHIB on April 29. This substantial spike in large transactions indicates that whales in the SHIB market have been particularly active, possibly taking advantage of the price dip.
SHIB has still been down by 12.05% over the past seven days. This divergence between whale activity and price performance suggests a complex interplay of factors driving SHIB’s market dynamics.
Shiba Inu Ecosystem Key Developments
In other developments within the Shiba Inu ecosystem, the Shiba Eternity collectible card game (CCG) has undergone significant upgrades. The latest version, 1.2.7, introduces enhancements to improve player interaction and strategic depth.
Notable changes include improvements to the social menu, making players connect easier, and adjustments to fighter mechanics, providing a more balanced gameplay experience. Specifically, these fighters have been tweaked to no longer inflict debuff damage on adjacent friendly fighters upon being destroyed.
ShibaSwap, the project’s decentralized exchange (DEX), is expanding to support Shibarium, Shiba Inu’s Ethereum Layer 2 blockchain. This move enhances security and interoperability, offering users a seamless trading experience.
#ShibaSwap is going multi-chain, operating on both #Shibarium and Ethereum. Who knows what the future holds? We're expanding our horizons. Don't forget, $Bone is the Shibarium gas fee token. IYKYK pic.twitter.com/ZCFep8AIKG
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) April 29, 2024
Adding to Shiba Inu’s excitement, the SHIB/JPY trading pair has been listed on Binance Japan. This listing opens up new trading opportunities for SHIB holders, further expanding the coin’s reach and accessibility in the Japanese market.
In conclusion, Shiba Inu’s recent surge in whale activity and ecosystem developments paint a dynamic picture of the coin’s evolving market landscape.
