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Shiba Inu Eyes Explosive 353% Surge in Large Transactions Worth 2.6 Trillion SHIB

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Mon, 9/10/2023 - 8:58
Shiba Inu Eyes Explosive 353% Surge in Large Transactions Worth 2.6 Trillion SHIB
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In a stunning turn of events, Shiba Inu (SHIB) ecosystem has been shaken to its core by an unprecedented surge in substantial on-chain transactions. According to a report by IntoTheBlock, the standout highlight of this phenomenon is a jaw-dropping 353% surge in large transactions valued at $100,000 or more. This meteoric rise unfolded within the span of a day since the weekend started.

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Renowned blockchain data provider IntoTheBlock documented this phenomenal occurrence, underscoring the astonishing leap of $18.62 million for large SHIB transactions. This surge accounts for an impressive 353% increase, leading to an exchange of approximately 2.59 trillion SHIB tokens.

The impact of this surge on the market is nothing short of remarkable, contributing to an overall daily transaction volume of 3.61 trillion SHIB, or $26.02 million.

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Source: IntoTheBlock

What makes this surge even more noteworthy is its correlation with the rise of another crucial metric measuring whale activity. On-chain data reveals that Shiba Inu token inflows to large holders' wallets skyrocketed from 169.04 billion SHIB to 2.98 trillion SHIB, marking an astonishing increase of 1,762.9%.

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This surge in large SHIB transactions and the influx into whale wallets hint at a seismic shift within the Shiba Inu ecosystem. With large transactions on the rise and whale activity reaching unprecedented levels, the Shiba Inu token's journey is becoming even more captivating, making it one of the most closely watched assets in the crypto space.

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