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Shiba Inu's on-chain volume surged, apart from the burn volume. For now, the transactional volume of Shiba Inu has hit 2.6 trillion SHIB, with almost 10% of it belonging to Coinbase's transactions.
According to the most recent information, Coinbase's hot wallet carried out two sizable transactions in the last day that accounted for about 260 billion SHIB. The total value of these transactions is about $402 million.
A major exchange like Coinbase has increased activity, which could indicate a resurgence of interest or a redistribution of funds among whales. It is clear from an analysis of the on-chain data that the Shiba Inu market is undergoing significant changes. At the week's low there were 47 transactions, but there has been a noticeable increase in the number of large transactions, which has reached 65.
Arman ShirinyanThe increase in big transactions raises the possibility that institutional investors or major holders are moving, perhaps ahead of expected changes on the market. In addition, there has been a discernible rise in the volume of large transactions in U.S. dollars.
With a volume of $45 million over the past 24 hours, it is evident that the Shiba Inu market is seeing significant capital flow. This increase in volume is indicative of greater liquidity and possibly increased investor interest, which is a good sign.
The asset is having difficulty holding onto its value in the face of larger market pressures, as evidenced by the technical chart of SHIB/USDT, which displays a protracted downtrend. On the other hand, the recent spike in transaction volume might indicate a turning point, or at the very least, a stabilization phase.
Gamza Khanzadaev
Godfrey Benjamin
