Advertisement
AD

Main navigation

Shiba Inu (SHIB) Skyrockets 290% in Key Whale Metric

Advertisement
Tue, 28/05/2024 - 9:20
Shiba Inu (SHIB) Skyrockets 290% in Key Whale Metric
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

As data from IntoTheBlock shows, the volume of large transactions involving the popular meme cryptocurrency Shiba Inu (SHIB) has increased 290% in the past 24 hours, from 1.23 trillion SHIB to 3.57 trillion SHIB.

Advertisement

Related

In dollar terms, this increase was mirrored in a transaction volume spike from $29.93 million to $91.04 million. In total, there were 268 such whale deals over the past 24 hours. It is important that only those transactions whose size amounted to at least $100,000 are taken into account.

“”
Source: IntoTheBlock

The price action of the popular meme cryptocurrency over the past day was no less attention-grabbing. In the last 24 hours, the price of SHIB rose by 4.89%, finding a peak at $0.00002623. Today, however, the price of the Shiba Inu token is falling by more than 3% on concerns related to Mt. Gox fulfilling its Bitcoin obligations.

“”
SHIB to USD by CoinMarketCap

The Shiba Inu price is now in an interesting position, where each successive daily candle is getting smaller in size, and in its bottoms and tops. This looks very much like  bullish accumulation, but one must remain vigilant as such approaches to a key resistance level can prove to be a trap for buyers.

Related

No matter what the outcome is, judging by the chart, the SHIB price is getting ready for its next big move, and the whales are clearly preparing for it too, by accumulating billions of tokens in advance.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD