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SHIB Eyes 300% Spike in up to $1 Million Shiba Inu Transactions as Shibarium Launch Nears

Tue, 08/08/2023 - 15:24
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Gamza Khanzadaev
Shibarium summer ignites explosive surge in up to $1 million Shiba Inu (SHIB) transactions
SHIB Eyes 300% Spike in up to $1 Million Shiba Inu Transactions as Shibarium Launch Nears
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In a surprising turn of events, recent on-chain data analyzed by IntoTheBlock has unveiled a whirlwind of activity within the realm of the Shiba Inu token. The statistics reveal a jaw-dropping surge in transactions involving SHIB within the price bracket of $100,000 to $1 million, marking an astonishing 300% increase over the past month.

New 4.3 Trillion SHIB Whale Emerges Ahead of Biggest Coming SHIB Event

This surge, which now accounts for an impressive 1.64% of all Shiba Inu token transactions, has not gone unnoticed.

Source: IntoTheBlock

The data further underscores the extent of this surge, as transactions within the same price range have surged fourfold in terms of dollar equivalent during this identical period. It is worth noting that another intriguing trend has emerged within the $10,000 to $100,000 transaction range, which has witnessed an impressive 95.4% climb since its July inception.

Shibarium gets whales activated

The crux of this extraordinary upswing can be traced back to the impending debut of Shibarium on the token's main network. This event, anticipated with fervor, has cast a sweeping wave of enthusiasm over the SHIB community, and major holders in particular. For those in possession of considerable volumes of SHIB, this impending launch presents a golden opportunity to leverage the upcoming Layer 2 protocol premiere.

Shiba Inu Trillionaires Acquire 11 Trillion SHIB in Just 2 Days as Shibarium Nears

Amid the unfolding summer of Shibarium, the feverish narrative encompassing the Shiba Inu ecosystem is reaching unprecedented heights. Notably, the intricate landscape of SHIB's investor base, particularly the most notable stakeholders, is taking center stage.

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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.