On-chain data from Shiba Inu reveals a significant spike in whale-tier transactions, up nearly 7% on the previous day. The network was significantly busier this week than it was the previous, with almost $8 trillion worth of SHIB exchanged.
The number of large transactions—those over $100,000—has increased significantly. There were 140 of similar transactions the day before, indicating a possible return of interest and even deliberate moves by large investors, or whales. This upswing contrasts sharply with the seven-day low of 99 transactions, suggesting a shift in the market’s characteristics.
Whales may be hoarding SHIB in anticipation of future fluctuations in price. This might be a planned action to obtain a substantial holding of the token while market conditions are deemed favourable.
Institutional investors may become more interested in Shiba Inus as they begin to realise their potential, leading to large volume acquisitions.
Shibarium and news about upcoming advances pertaining to Shiba Inus might potentially be the cause of the heightened activity. This contains details on recent projects, teamwork, and technology developments in the SHIB ecosystem.
Increases in big transactions and trading volume, which can result in noticeable price swings, are typically signs of elevated interest. Shiba Inu is now consolidating around its main support levels, as the technical analysis shows. The 50-day and 100-day moving averages suggest that SHIB is keeping stable, but the rise in transaction volume may push the coin to new resistance levels.
Generally speaking, the absence of volatility is currently a greater issue for SHIB and is more likely to lead to performance suppression than to growth.
