Shiba Inu transactions greater than $100K have risen by 47% over the last 24 hours
Recent data from IntoTheBlock Analytics indicates that Shiba Inu transactions over $100,000 have increased by 47% in the past 24 hours. The SHIB price is seeing a decline alongside the rest of the market.
Large transactions, often greater than $100,000, serve as a proxy for the number of transactions made by whales and institutional investors.
The volume of these large transactions gives an idea of the total amount that whales and institutional players transact during a given day.
Increases in the volume of large transactions indicate increased activity among large players either buying or selling. During periods of collapse, whales and wealthy investors have been known to accumulate more, opting for dip-buying.
Shiba Inu top whales increased their balance by 45.7% amid falling prices
The cryptocurrency market succumbed to widespread selling pressure as Bitcoin and altcoins pared previously accumulated gains. Subsequently, the price of Shiba Inu fell to a low of $0.000277 from a high of $0.0000325 on February 17.
At the time of publication, SHIB was trading at $0.0000287. SHIB ranked 14th largest cryptocurrency by market capitalization and was down 7.78% in the last 24 hours, according to CoinMarketCap.
According to data from WhaleStats’ analysis of the top 100 Shiba Inu whales, the average SHIB balance held by this category of top holders has increased by 45.69% over the past 24 hours. SHIB also remains the largest token holder among the top 1,000 ETH wallets.
The total number of SHIB holders keeps setting fresh highs and remains at 1,180,598 presently.
