Right now, Shiba Inu (SHIB) does not have a favourable disadvantage. The meme currency is trading at $0.000009917, down 2.17% after giving up the gains that had allowed it to recently eliminate one of its many zeroes. Only the whale deals that IntoTheBlock represented offered gloomy Shiba Inu investors some optimism.
The cryptocurrency data analytics portal reports that as of December 13, Shiba Inu’s total dollar transaction volume had reached $11.3 million. To put things in perspective, big transactions are those with a dollar value of $100,000 or more. SHIB whales did not slow down; on December 14, they completed nearly twice as many transactions, with a total value of $23.33 million.
Additionally, there is a discernible increase in the precise quantity of these whale transactions. Remarkably, the total number of transactions on Dec. 13 was 44, and on Dec. 14, it had increased to 83. The two-day rise is noteworthy because it indicates that there is no overall market momentum behind the whale activity.
The corresponding increase in trade volume of 8.11% to $208,251,827 highlights a trend that may be crucial in igniting the Shiba Inu renaissance.
SHIB Volatility: Boom or burst
Shiba Inu hasn’t been able to transform its volatility into a long-term, positive boom for its hodlers thus far. Despite having strong exchange support and being the second-largest meme currency by market capitalization, the token has not performed well in comparison to other meme currencies in the market.
Shiba Inu’s fundamentals, which are based on the potential of Shibarium and the present deflationary trends, are also worth counting on for a comparatively better future even though on-chain measures show promise.
