Unprecedented price growth for the Shiba Inu token, SHIB, has resulted in a surprising turn of events that has increased the number of noteworthy transactions involving the well-known cryptocurrency by a factor of four. Blockchain analytics tool IntoTheBlock reports a startling increase in transactions costing $100,000 or more.
These high-value transactions using the Shiba Inu token have increased dramatically over the last 24 hours, by an astounding $56.78 million, or a whopping 390%. The overall number of transactions throughout the course of the day increased to an astounding 9.57 trillion thanks to this spike alone, which generated a stunning 6.97 trillion SHIB.
Shiba Inu (SHIB) soars 10%
The extraordinary performance of the SHIB token’s price yesterday is what caused the rise in huge transactions. The Shiba Inu token’s price had a significant 10% boost following a market-wide spike, bringing it to its greatest value in the previous three weeks. SHIB holders were ecstatic as a result of this rise since it was significant enough to change the price from a figure 7 to an 8.
The SHIB cryptocurrency is expected to keep following the market’s general trend, and any future price changes are unlikely to be driven entirely by its own stories. The price of the token will continue to be closely tied to general market circumstances until the SHIB community obtains Shibarium, a highly awaited development for the token.
It is unclear how SHIB will perform over the long term given the continuously changing nature of the crypto industry. But for the time being, SHIB has solidified its place as one of the most intriguing possibilities available.
