Main navigation

Shiba Inu Large Transactions Up by 122%, Owing to Surge in Whales' Interest in SHIB

News
Sat, 05/28/2022 - 17:30
article image
Tomiwabold Olajide
Shiba Inu whales have been more active in last 24 hours
Shiba Inu Large Transactions Up by 122%, Owing to Surge in Whales' Interest in SHIB
Cover image via www.freepik.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Shiba Inu whales have been more active in the last 24 hours, according to IntoTheBlock data, with a 122% spike in large transactions. Large transaction surges are typically linked to increased activity from whales who are either buying or selling, and these total more than $100,000.

IntoTheBlock
Large Transactions, Courtesy: IntoTheBlock

WhaleStats' analysis of the top 100 Shiba Inu holders reflects an 8.28% spike in active addresses as crypto whales interacted with billions of Shiba Inu, leading to an increase in the number of large transactions. WhaleStats has detected large Shiba Inu purchases in the last 24 hours.

"BlueWhale0073," ranked 312th on WhaleStats, recently bought 147,846,134,326 SHIB valued at $1,562,733.

SHIB also resurfaced as one of the top 10 tokens purchased by the top 5,000 ETH whales, who now own $627,497,979 worth of SHIB.

Bitrue launches new yield farming option for SHIB

Bitrue has launched a new yield farming option for Shiba Inu, allowing holders to earn on their tokens. As stated on its blog post, there are three Shiba Inu pool options, each with its own lockup days, caps and APY. Users can pick the one that best suits their needs and begin earning incentives.

In the past week, cryptocurrency exchange MEXC Global announced the listing of SHIB/USDC, thus allowing users to trade Shiba Inu against Circle's USDC stablecoin.

At the time of publication, Shiba Inu was trading down at $0.00001073. Due to the volatility experienced across the board in May, Shiba Inu remains down nearly 46% for the month. Despite price declines, Shiba Inu has added nearly 32,000 holders since the start of May as the current holder count stands at 1,171,385, per WhaleStats data.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.