Shiba Inu Whale Activity On The Rise
The Shiba Inu ecosystem is seeing a surge in whale activity, with large holders pouring in their investments. According to data from crypto market intelligence platform IntoTheBlock, Shiba Inu experienced a massive increase of 2,595% in large holder inflows. This surge took place between February 7 and February 9, resulting in a significant rise in inflows from 275.2 billion SHIB to a staggering 2.31 trillion SHIB. Additionally, between February 8 and February 9, there was another surge as large holder inflows rose from 1.4 trillion SHIB to 2.31 trillion SHIB.
These substantial gains have caught the attention of the broader cryptocurrency market and have led to increased interest in Shiba Inu. Many investors and market watchers are closely monitoring the token to understand the factors driving these significant whale movements.
SHIB Sets Course For Potential Price Surge
Alongside the rise in whale activities, Shiba Inu has also experienced an increase in daily transactions and new active users. Data from ShibariumScan reveals a surge in daily transactions from 526,090 on February 9 to 2.04 million on February 11. Although daily transactions have slightly dropped at the time of writing, standing at 1.88 million, this increase indicates growing investor interest and adoption of Shiba Inu.
These rising transaction volumes and investor purchases could potentially lead to a price surge for Shiba Inu. Currently priced at $0.0000095 according to CoinMarketCap, SHIB has already seen a 2.76% gain in the past 24 hours. With positive developments fueling market sentiment, Shiba Inu may experience exponential growth if it can overcome key limitations and price resistance.
Hot Take: Shiba Inu’s Potential for a Bull Run
The recent rise in whale activity and daily transactions, coupled with positive market sentiment, suggests that Shiba Inu could be on the brink of a major bull run. Shiba Inu’s marketing lead and influencer, Lucie, believes that the cryptocurrency has the potential to take advantage of the 2024 bull run. Lucie projects that as capital flows into prominent cryptocurrencies like Bitcoin and other major altcoins during the bull market phase, Shibarium may also experience a surge in momentum, ultimately driving up the price of SHIB.
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