Shiba Inu has seen a whirlwind of market activity over the last 24 hours, with whales and exchanges actively shuffling their SHIB holdings, catapulting the number of high-tier transactions. Here’s what’s going on:
Recent data unveils a flurry of significant moves within the Shiba Inu ecosystem. Notably, a Robinhood hot wallet transferred a massive 45.01 billion SHIB (worth around $1.13 million) to another Robinhood wallet. Meanwhile, a Symbolic Capital Partners MEV Bot was busy with multiple large-scale transactions, each moving around 50 billion SHIB, valued between $1.23 million and $1.26 million. Uniswap also recorded substantial activity, with transactions involving 50.8 billion SHIB ($1.26 million) and 50.4 billion SHIB ($1.23 million).
This burst of activity was mirrored in the on-chain data, revealing 86 large transactions in the past 24 hours, totaling about 1.14 trillion SHIB. This marks a significant spike from a seven-day low of 14 transactions to a high of 378, with transaction volumes reaching 1.14 trillion SHIB in just one day, against a seven-day high of 9.6 trillion SHIB and a low of 415.2 billion SHIB.
Despite this frenzy, SHIB has been locked in a symmetrical triangle pattern on the charts, suggesting market indecision. The recent surge in whale transactions and large transfers might signal an upcoming breakout or a major price move. However, SHIB’s price has remained stable, hovering around the $0.00002450 mark, with resistance and support levels clearly defined.
Given the low volatility in the Shiba Inu market, it appears that the mammoth transfers could be whales or institutional investors adjusting their portfolios, or perhaps exchanges gearing up for forthcoming market events.
Stay tuned, as the SHIB saga might just be getting started! #MemeWatch2024 📈🐕
#Binance #Bitcoin #shiba $SHIB
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