The Shiba Inu coin has risen dramatically in the previous 24 hours, with on-chain activity rising by an astounding 514%. This is a remarkable change of events. This information, which was made available by IntoTheBlock, illuminates a rapid surge in significant SHIB transactions.
With SHIB, the amount of these significant transactions increased from 544.71 billion to an astounding 2.82 trillion tokens, which resulted in an astounding increase in the value of USD from $4.88 million to $25.05 million. Notably, this study by IntoTheBlock only considers transactions that total more than $100,000, and in the last day alone, 33 such transactions have been made.
This spike comes after an extended period of low whale activity in the Shiba Inu token ecosystem. After a steep fall in late January, big SHIB trades had almost completely stopped for almost a week. But this respite seems to have been just momentary.
All eyes on SHIB
Now that major players have returned to the Shiba Inu network, all eyes are focused on how SHIB’s price is going to go. For the previous two weeks, SHIB has been in an accumulation period, marked by low volatility and largely unnoticeable price moves, according to observers.
However, the return of well-known investors suggests that there may be major changes in the SHIB price soon.
Investors are waiting for the next big move in this increasingly fascinating world of digital assets as the crypto market waits for what could be a major upheaval in Shiba Inu’s fortunes.
