An overwhelming surge in whale activity has been observed in Shiba Inu (SHIB), with IntoTheBlock reporting a one hundred percent increase
Shiba Inu (SHIB) price action experienced a surge in whale activity, with IntoTheBlock reporting a 100% increase in the number of major transactions involving SHIB in the past 24 hours.
The total number of SHIB raised for transactions exceeding $100,000 went up by over 2.16 trillion tokens, bringing the total to 4.15 trillion.
This rise was valued at $36.06 million, contributing to a total volume of $70.31 million in just the last day.
There were a total of 110 such substantial deals. To put this into perspective, major transactions typically contained 37.73 billion SHIB, or $639,181—6.4 times more than the usual, as shared by U.Today.
While this statistic sheds light on what the cryptocurrency market's "whales" are up to behind the scenes, it is far from indicative of how the major players feel.
Specifically, we look at the large holder netflow statistic, which measures the overall change in the value of tokens held by wallets with a holding percentage of at least 0.1%.
The sum of inflows and outflows associated with these large holders amounted to 57.07 billion SHIB in total during the time period under consideration.
This figure represents an increase of 84.4% compared to the previous day.
Breaking this amount down into its component parts, we can see that 1.67 trillion Shiba Inu tokens were brought into the wallets of whales, while 1.62 trillion Shiba Inu tokens were taken out of those wallets.
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