Shiba Inu whales are making significant moves on the market, with large transactions increasing by 197% in the last 24 hours.
Large transactions are defined as those that exceed $100,000 by IntoTheBlock, an on-chain analytics service.
According to the blockchain data source, there were $12.54 million in large transactions on the previous day, an increase of 197%.
A substantial increase in this total could be the result of whales buying or selling. This is because large transactions frequently provide insights into whale on-chain behavior.
According to IntoTheBlock data, large-holder net flows, which indicate changes in the positions of whales and investors, increased by 326% in the last seven days. Netflow surges could be regarded as accumulations from large holders or whales.
Shiba Inu's price rebounded after trading to lows of $0.0000077 on July 26. SHIB was up slightly in the last 24 hours at $0.00000788 after reaching intraday highs of $0.00000794 at the time of publication.
Previously, the market traded lower as traders awaited the Federal Reserve's interest rate decision, which was revealed on Wednesday.
Shiba Inu welcomes new developments
The Shiba Inu community has welcomed yet another milestone, as the Shibarium beta bridge has gone live, allowing the public to test it and report any issues or bugs detected.
The Shibarium bridge is a cross-chain protocol that allows users to transfer assets from the ETH network to the Shibarium network. It also enables the deposit and withdrawal of assets between networks.
As reported, Shiba Inu has received a new gold check mark on its 3.4 million-follower X account, confirming its status as an official company account through Twitter's Verified Organizations program.