Shiba Inu’s Whale Transactions Surge
Recent data reveals that Shiba Inu has experienced a significant surge in whale transactions. Over the past 24 hours, the SHIB community has taken actions to increase token support, leading to astounding whale transactions.
The total inflows of SHIB tokens held by major holders are at an impressive 7.84 trillion SHIB, indicating a significant 48.48% increase in inflows over the past 24 hours. This surge is impressive due to the numbers being 410.21 billion SHIB tokens, presenting a spectacular 1,911.2% increase in SHIB held by major holders.
This surge in whale activity followed a recent transaction from an unknown wallet involving approximately 4.43 trillion SHIB tokens.
Whale Activity Details
According to data from Whale Alert, the unknown wallet transferred the 4.43 trillion SHIB tokens, currently valued at approximately $35.82 million, to another unknown wallet. The alleged transaction occurred in a freshly created wallet with just two transactions being carried out within 12 hours.
In addition, the Amsterdam-based cryptocurrency exchange Bitvavo also sent trillions of SHIB tokens to the same alleged wallet. Whales’ large SHIB hoarding is increasing at the same time as the token’s remarkable price movement.
Shibarium Sparks Price Growth
The achievements of Shiba Inu layer 2 blockchain Shibarium have had a positive impact on the price of SHIB. The blockchain milestones have caused quite a hype in the Shiba Inu ecosystem and could bolster SHIB’s growth past its current price of $0.0000082.
The adoption rate of Shibarium will only increase as more SHIB holders become familiar with its advantages, including reduced costs and quicker transaction times.
Several events have suggested that SHIB’s price will continue to rise, such as the recently launched Shib Name Service (SNS) and Shibdentity.
Hot Take: Shiba Inu’s Potential for Growth
The recent surge in whale transactions and advancements in Shibarium demonstrate Shiba Inu’s potential for substantial growth beyond its current value. The increased adoption rate and positive market sentiment indicate a promising future for SHIB, especially with upcoming developments such as SNS and Shibdentity further boosting its value.
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