Main navigation

Shiba Inu Skyrockets 651% in Epic Whale Surge to Erase Zero From SHIB Price

Advertisement
Wed, 17/01/2024 - 10:47
Shiba Inu Skyrockets 651% in Epic Whale Surge to Erase Zero From SHIB Price
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

In a jaw-dropping turn of events, the Shiba Inu (SHIB) community is witnessing an unprecedented surge in whale activity, marking a momentous leap toward the elusive goal of erasing a zero from the token's price. Data from IntoTheBlock reveals that over the past 24 hours, whale transactions involving SHIB have exploded, surging by an astonishing $56.45 million — a remarkable spike of 651%.

Related

This sudden uptick in whale movement has resulted in a staggering total of 5.9 trillion SHIB tokens being exchanged within a mere 18 transactions, each exceeding $100,000. While the number of transactions may seem relatively small, the volume involved is nothing short of extraordinary.

Article image
Source: IntoTheBlock

Shiba Inu (SHIB) price in action

Meanwhile, the SHIB price continues to hover near the crucial threshold of $0.00001, commanding the focus of enthusiasts and traders alike. The erasure of a zero from the Shiba Inu token price has been a central topic within the community for weeks. Although SHIB achieved this milestone in the short term, sustaining the momentum proved challenging, causing the token to retreat to five zeros after the decimal point.

Advertisement
Article image
SHIB to USD by CoinMarketCap

The difficulty lies in the fact that concentrations of Shiba Inu tokens above $0.00001 are causing losses for holders. IntoTheBlock reports a whopping 580.51 trillion SHIBs concentrated across 328,050 wallets in the $0.00001 to $0.000019 range — more than half of the total token supply.

Related

For the SHIB price to not only erase a zero but to ascend further, absorbing this massive volume becomes imperative.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

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

Popular articles

Advertisement
AD