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Shiba Inu: Mysterious Whales Move Trillions of SHIB as Transactions Jump 154%

Fri, 10/28/2022 - 09:52
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Tomiwabold Olajide
Shiba Inu also ranked among top 10 assets traded by whales
Shiba Inu: Mysterious Whales Move Trillions of SHIB as Transactions Jump 154%
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According to IntoTheBlock data, Shiba Inu whales, or large holders, got into the action as large transactions rose 154% in the last 24 hours. Large transaction surges are typically linked to increased activity from whales, who are either buying or selling and are often more than $100,000. Most Shiba Inu price moves have often coincided with a spike in large transactions.

According to crypto data tracker WhaleAlert in two lumps, 3,377,867,790,724 SHIB worth $37,375,684 and another 3,914,263,607,418 SHIB worth $42,932,556 were moved in between wallets. Shiba Inu saw a massive spike on Oct. 27 to reach highs of $0.0000118 but has since returned to trade near $0.0000106.

WhaleStats' analysis of the top 100 Shiba Inu holders also reflected a 50% spike in active addresses as crypto whales interacted with billions of Shiba Inu, leading to an increase in the number of large transactions. The average SHIB balance in this category of whales rose slightly (2.45%) in the last 24 hours.

Shiba Inu also ranked among the top 10 assets in terms of trading volume among the 2,000 biggest ETH whales.

Shiba Inu Large Transactions Rose 880% as SHIB Saw Buying Pressure: Details

Currently, the top 500 ETH whales are hodling $133,187,605 worth of SHIB. According to CoinMarketCap, Shiba Inu was trading at $0.0000106 at the time of publication, up 1.75% in the last hour and down 3.99% overall in the last 24 hours.

Shiba Inu gains "hodlers"

According to IntoTheBlock's data on holder composition by time held, 40% of SHIB holders have "hodled" their tokens for more than a year, 57% have held within a year and 3% have held onto their tokens for less than a month.

Shiba Inu Retail Holders Buying up Recent SHIB Price Drop, Data Shows

As reported previously, the percentage of long-term holders, or "hodlers," was given at 38% on Oct. 26. The current 40% implies an increase.

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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.