Shiba Inu (SHIB) Draws Attention from Whales Amid Sloppy Shibarium Launch
- Shibarium, the newly deployed platform by Shiba Inu, experienced transactions stalled in a pending state, resulting in $1.8 million in locked funds.
- The SHIB token’s price has declined by nearly 10% in the past 24 hours due to the Shibarium launch issues.
- Despite the price decline, there has been an increase in whale activity on Shiba Inu, as reported by blockchain data firm Santiment.
- Santiment’s data shows a surge in transfers of SHIB valued at $1 million or higher.
- The whale activity may be driven by large investors aiming to take advantage of discounted prices in the Shiba Inu ecosystem.
Shiba Inu’s Market Performance
- Shiba Inu has experienced a 9.9% loss in the past 24 hours, with a current market price of $0.0000087.
- The asset’s market capitalization has decreased by over $600 million in the past day.
- Despite the decline, Shiba Inu’s daily trading volume remains resilient, standing at $461 million.
Hot Take: Shiba Inu Faces Challenges, but Whales Still See Potential
Despite the recent launch issues and price decline, Shiba Inu continues to attract attention from whales, with significant activity observed in large-value transfers. While the Shibarium launch did not go as planned, it still represents an important development for the SHIB community. The whale activity suggests that these investors see potential in Shiba Inu and are looking to capitalize on discounted prices. The market performance may be volatile, but the project’s capabilities and ecosystem continue to generate interest.
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