According to U.Today, unusual activity has been observed in the Shiba Inu (SHIB) cryptocurrency market, as a key metric indicating whale transactions has spiked significantly. Data from IntoTheBlock reveals that the Large Transactions Volume for SHIB surged from 326.98 billion SHIB to 781.4 billion SHIB within the past 24 hours. This metric includes only transactions worth at least $100,000, with 45 such transactions recorded during this period.
In dollar terms, the transaction volume of large holders increased from $4.61 million to $10.47 million over the same timeframe. This surge in activity among major investors has coincided with a notable increase in the price and trading volume of SHIB. U.Today reported that the price of SHIB rose by 5% in a short period, driven by heightened buying activity.
The recent spike in whale activity has had a visible impact on the price chart of Shiba Inu, which is currently the 13th largest cryptocurrency by market capitalization. As of today, the price of SHIB has increased by more than 4.3%, breaking above the $0.000014 mark. This rise is attributed to the significant buying activity by large investors over the past 24 hours.
The future trajectory of Shiba Inu's price remains uncertain, and it is yet to be seen whether this trend of increased whale activity will continue. The market will be closely watching for further developments in the coming days.
