Spikes in large transactions often point to high activity among institutional players
WhaleStats’ analysis of the top 100 Shiba Inu holders reports that 24-hour trading volume for this address category increased by almost 341%. Additionally, according to data from IntoTheBlock, Shiba Inu whales have become more active over the past 24 hours, with the number of large transactions increasing by 112%.
Spikes in large transactions often point to high activity among institutional players, or whales, who are either buying or selling.
WhaleStats too reported SHIB among the top 10 by trading volume among the top 5,000 ETH whales in the last 24 hours. Additionally, an analysis of the top 100 Shiba Inu holders on WhaleStats shows an 11.56% increase in the average SHIB value of holdings for this category of investors. Active addresses and netflow also increased by over 28.57% and 107% in the past 24 hours.
Shiba Inu rises by 15% as holders grow by nearly 33,000
Shiba Inu’s price tested lows of $0.0000101 on May 27 before it rebounded. At the time of publication, SHIB was trading up nearly 15% at $0.0000119, thus setting up to mark the third consecutive day of positive price action. The recent price rise represents a more than 40% increase from its lowest price this month of around $0.00000859.
Additionally, Shiba Inu gained over 33,000 owners in just a few days. According to WhaleStats, the total number of SHIB holders is currently at 1,172,508. As previously reported, at the end of April, the count stood at 1,139,916. The steady increase continues to be a positive sign. Although an increase in the number of holders may not have an immediate impact on the price, it can indicate long-term interest in an asset.
Aside from gaining new holders, the meme token’s acceptance is continually growing. As shared by Shibainuart, the soccer team “El Talita Csyd,” located in Argentina, will use the Shiba logo on its clothing.
Last week Shiba Inu welcomed Marcie Jastrow and Sherri Cuono to their Metaverse team. Both will bring their wealth of experience to help grow SHIB: The Metaverse, which officially launched in late March.
