Shiba Inu (SHIB) has several challenges in maintaining its optimistic perspective. In the continuous battle against sell-offs by some HODLers, Shiba Inu whales have taken the lead. The network’s high transaction volume has increased dramatically, indicating that the heavy lifters are once again interested.
Shiba Inu whales onto something big
With a total of $29.74 million shifted, Shiba Inu’s huge transactions increased by almost 41% in a single day, according to statistics from the cryptocurrency data analytics portal IntoTheBlock. A key indicator of the meme coin’s health is this whale transaction metric.
In the last 24 hours, 91 connected transactions were logged, allowing us to zoom in on the pattern. At least $100,000 is involved in these significant deals. This transaction count increased from a low of 48 to a high of 209 throughout the last week.
A total of 1.68 trillion was transferred between chains as a result of the 24-hour massive transactions. In the last week, this has also changed, rising from a low of 925.75 billion SHIB to a high of 3.42 trillion SHIB.
The token has reduced its previous recorded losses as of this writing. It is now at $0.00001775, up 0.44% in a day. This spectacular comeback demonstrates how SHIB whales have assisted in reviving the token in the face of an increasing sell-off.
Shiba Inu and dynamic ecosystem metrics
It’s important to remember that Shiba Inu is among the most active meme currencies available. Its whale trades may have improved sentiment, but in the last 24 hours, it has registered an extremely low SHIB in burning operations.
Members of the SHIB army are feeling more optimistic about the future thanks to the protocol’s core developers, who have helped maintain trust in the project. Community enthusiasm, the introduction of new products like SHI stablecoin, and general market mood have all helped the token.
For Shiba Inus, this revival and the whale’s help might mark the beginning of something significant.
