Shiba Inu Price Recovers from Lows, SHIB Daily Large Transactions Increase by 261%

SHIB

Large transaction peaks are often associated with increased activity of institutional players

Per IntoTheBlock data, Shiba Inu whales have been increasingly active in the previous 24 hours, with a 261% increase in large transactions. Large transaction spikes are frequently associated with increased activity from institutional players, or whales, who are either buying or selling.

These transactions exceed the $100,000 moved, according to IntoTheBlock. Shiba Inu is up 25% on its daily chart at a current price of $0.0000174.

WhaleStats’ analysis of the top 100 Shiba Inu holders reflects a 50% spike in SHIB active addresses as crypto whales purchased billions of Shiba Inu in recent hours, leading to a massive increase in the number of large transactions and positive price action. In the last 24 hours, two large Shiba Inu purchases have been reported by WhaleStats.

In recent hours, ETH Whale “BlueWhale0073”, ranked 222nd on WhaleStats, purchased 311,816,880,855 SHIBs worth $4,801,979. Previously, the blockchain data tracker reported that ETH whale “Bombur” added 60,606,002,938 SHIB worth $1,004,847 to its holdings.

Shiba Inu is also back on the list of the top 10 purchased tokens by the top ETH whales.

SHIB course

Shiba Inu is showing a rebound after hitting a low of $0.00001347 on May 10. At press time, SHIB was trading at $0.0000178 after hitting intraday highs at $0.00001788. Shiba Inu encountered strong support at the $0.0000134 level, which halted the declines as the RSI entered oversold conditions.

The relief rally comes as SHIB suffered significant losses during the prior day, dipping as much as 20%. Despite the recent plunge, Shiba Inu holders continue to increase. According to WhaleStats, the total number of SHIB holders is currently 1,146,848.

admin

Read Previous

NASA Partners With Epic Games to Create a Martian Metaverse Simulation

Read Next

MicroStrategy Gives Lowest Bitcoin Price to Avoid Holdings Liquidation

Leave a Reply

Your email address will not be published. Required fields are marked *

Right Menu Icon