Shiba Inu (SHIB) Whale Activity Spikes 265% as Large Investors Position for Potential Market Recovery

Shiba Inu (SHIB), one of the leading meme coins, has experienced a significant uptick in whale activity over the past 24 hours.

Shiba Inu (SHIB) price showed a modest gain of 3.1% over the past 24 hours, trading at $0.00002229 at the time of writing. However, this uptick in price was accompanied by a significant increase in whale activity, which could hold implications for the upcoming price trajectory.

According to data from on-chain analytics firm IntoTheBlock, large transactions, defined as transactions valued at $100,000 or more, surged by 265% over the past 24 hours. This renewed interest from large investors could be a factor in the token’s price rise during this period.

The recent surge in whale activity follows a period of decline and profit-taking among Shiba Inu holders, particularly after a dip in price that began in early December. During this time, whale activity had been decreasing, with large transactions dropping from nearly 19 trillion SHIB tokens on December 10 to just over 1 trillion SHIB by December 22.

Nevertheless, the past day has seen a dramatic shift, with large transactions now totaling 3.75 trillion SHIB tokens, a 250% increase compared to the previous 24 hours. In monetary terms, these transactions have surged from $23.06 million to $84.24 million, highlighting a sharp rise in large-scale trading.

This renewed interest from large investors could be a sign of the beginning of a price rebound for Shiba Inu. Large investors may be positioning themselves for a potential market recovery in the coming months.

With SHIB’s current price still down by about 86% from its all-time high, could this surge in whale activity help drive the price towards $0.00004? For this to happen, sustained buying momentum will be needed in the weeks ahead, perhaps supported by other bullish indicators like increased network activity and token burns.