Shiba Inu Reports Over 100% Growth in Active Whale Addresses and Volume Amid Falling Prices
As per WhaleStats analysis, Shiba Inu has seen a near 100% increase in active whale addresses and volume. Shiba Inu follows the general crypto market trend and dips 7% at $0.0000367. The entire crypto market is trading down in the last 24 hours, with Bitcoin and nearly all altcoins losing value.
WhaleStats analyzed data from the top 100 SHIB holders among the top 1,000 ETH wallets it tracks, offering the results to the public on Twitter.
In the last 24 hours, the average SHIB balance held by these large entities has increased by 2.37% to 2.635 billion, and the active addresses have grown by a whopping 100% to 14, while the volume has likewise increased by nearly 90% to $17,517,915 as of press time.
Peak of large Shiba Inu transactions
WhaleStats analysis indicates that Shiba Inu remains the largest token position in dollar value among ETH whales and the second largest holding after Ethereum. The number of Shiba Inu holders continues to increase and currently stands at 1,097,907, according to WhaleStats data.
IntoTheBlock analysis detects an increase of 10% for large Shiba Inu transactions. IntoTheBlock considers large transactions those that are greater than $100,000 transferred.
Amid the price decline, major support is seen first at levels of $ 0.000035 to $ 0.000036, where 49,370 addresses bought 13.269 billion SHIB tokens, according to IntoTheBlock’s In / Out of Money. Further support could be at the $ 0.000031 to $ 0.000032 level, where 37,300 addresses bought 4.47 billion SHIB tokens.
