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Large Shiba Inu (SHIB) Transactions Witness Jaw-Dropping 700% Surge in 2 Days

Wed, 08/30/2023 - 14:11
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Gamza Khanzadaev
Epic Shibarium expansion triggers jaw-dropping 700% surge in large transactions with Shiba Inu token
Large Shiba Inu (SHIB) Transactions Witness Jaw-Dropping 700% Surge in 2 Days
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Astonishing developments have rocked the Shiba Inu token (SHIB) ecosystem, as an unprecedented surge in substantial on-chain transactions was revealed by IntoTheBlock. The standout highlight is the jaw-dropping 700% surge in large transactions valued at $100,000 or more, a meteoric rise that transpired within a mere two-day span since the beginning of the week.

Shiba Inu (SHIB) Might Surprise You Thanks to This Pattern

Thus, a renowned blockchain data provider has documented this phenomenal occurrence, underscoring the astonishing leap of $17.39 million on large SHIB transactions. This surge accounts for an impressive 700% increase, leading to an exchange of approximately 2.06 trillion SHIB tokens. Notably, this surge has contributed to an overall daily transaction volume of 2.43 trillion.

Source: IntoTheBlock

Behind this monumental event lies the much-anticipated rebirth of Shibarium, a Layer 2 solution invented by the Shiba Inu team. Despite encountering initial setbacks during the protocol's relaunch, collaborative efforts between project members and Polygon developers successfully ironed out all hurdles, culminating in Shibarium's triumphant return.

Shiba Inu's Shibarium Skyrockets: Triples in Size in Just 24 Hours

This surge in large transactions suggests a renewed sense of enthusiasm and confidence among investors and the SHIB community, indicating a positive view toward the project's future. This sentiment is further mirrored in the substantial growth of the network itself. Over the past 24 hours, the number of addresses has experienced an impressive 300% increase, crossing the milestone of 300,000 addresses.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.