Unexpectedly, the Shiba Inu token (SHIB) has seen a remarkable uptick in on-chain dynamics, with whale transactions seeing an unheard-of increase in value. The blockchain analytics company IntoTheBlock reports that in the past 24 hours, there has been an astounding rise of 1,314% in major SHIB transactions valued at $100,000 or more.
The spike in whale trades represents an astounding $64 million gain in a single day, with an even more spectacular climb from $4 million the day before.
The main driver of this incredible increase was the 4.23 trillion tokens—or $44.46 million worth of SHIB—that were transferred from an unknown wallet to Bitvavo.
About 14 hours ago, a noteworthy transaction from a freshly formed wallet took place, adding intrigue to the already compelling story.
https://x.com/whale_alert/status/1741854616701092043?s=20
SHIB price goes green
*At the same time, the value of the Shiba Inu token increased; it is now worth 0.00001071. This represents the greatest range of token prices since the end of the Shibarium project launch at the end of August and points to a possible breakout. This recent spike in whale activity and token price suggests that SHIB is entering an intriguing and maybe game-changing phase.
With a mixture of excitement and suspense, SHIB lovers are observing these events, while traders are left wondering about the consequences and future course of this well-liked digital asset.
With 5.52 trillion SHIB tokens traded during this frenzy of on-chain activity, it is clear that the Shiba Inu token is becoming popular and holding its own place in the cryptocurrency market.
