A 268% increase in whale activity has been caused by the dog-themed cryptocurrency Shiba Inu (SHIB), which has seen a price recovery.
The number of large transactions, a sign of whale activity in terms of buying or selling, rose by 268.26% over the previous day. During the designated time period, there were $98.12 million in major transactions—transactions valued above $100,000.
Large transaction volumes surged sharply, from 1.07 trillion SHIB on April 28 to 4.17 trillion SHIB on April 29, according to IntoTheBlock statistics.
This whale measure’s gain comes after Shiba Inu’s price, which had been falling for the previous four days, started to rise.
Whales, or cryptocurrency investors with substantial holdings, have pounced on the chance as the price of SHIB rises, completing substantial transactions and increasing the volume of transactions.
It may become more important to monitor big holder netflows, which give an indication of the shift in whale holdings, when the amount of large transactions increases.
Regarding this, Shiba Inu is observing negative netflows of 309% over the course of seven days, indicating that whales may be cutting back on their holdings or selling as uncertainty surrounds the larger cryptocurrency market.
As of this writing, SHIB was up 4% over the previous day to $0.0000235 in trade. SHIB has down 12.05% during the previous week.
Shiba Eternity gets new upgrade
The third big update of the month is a massive enhancement to Shiba Eternity, the Shiba Inu CCG game. Significant improvements have been made in the most current version, 1.2.7, with the goal of boosting player engagement and strategic depth. The social menu has been overhauled, making it easier than ever for gamers to connect. It now loads rapidly and handles friend lists.
The mechanics of the game have changed significantly, which has an impact on fighters that use beta. These fighters have been changed such that allied fighters nearby will no longer sustain debuff damage when they are eliminated.
The SHIB/JPY trading pair is now available on Binance Japan, which is another great development.
