Unexpectedly, IntoTheBlock’s analysis of recent on-chain data has shown a flurry of activity surrounding the Shiba Inu cryptocurrency. The numbers show a startling jump in SHIB purchases in the $100,000 to $1 million price range, representing a startling 300% increase over the previous month.
This increase, which currently represents a remarkable 1.64% of all transactions using Shiba Inu tokens, has not gone ignored.
The fact that transactions within the same price range have increased fourfold in terms of dollar equivalent over the same time in the data further emphasises the magnitude of this spike. The $10,000 to $100,000 transaction category has seen an incredible 95.4% increase since its start in July, which is worth mentioning as another fascinating pattern.
Shibarium gets whales activated
This exceptional increase has its roots in Shibarium’s upcoming launch on the token’s main network. The SHIB community, and significant holders in particular, have experienced a sweeping surge of enthusiasm as a result of this much awaited event. This approaching launch offers a fantastic chance for people who have large amounts of SHIB to take advantage of the debut of the Layer 2 protocol.
The torrid story covering the Shiba Inu ecosystem is reaching previously unheard-of heights as Shibarium’s summer plays out. Notably, the complex structure of SHIB’s investment base, in particular the most prominent stakeholders, is gaining prominence.
