Social analytics platform LunarCrush has observed a spike in Shiba Inu social activity in the last 24 hours. It reports that SHIB social contributors measured daily hit 47,880, which is the highest in the last 90 days.
We are noticing soaring #shibainu social activity today. $SHIB social contributors measured daily hit 47.88K, the highest point in the last 90 days.— LunarCrush (@LunarCrush) March 21, 2023
Price change (1wk) after 10+ previous similar insights was +12.4%! Worth trading?#TradetheTalk💬 - https://t.co/oYP5IS4Ofa pic.twitter.com/48rO62aU4x
This comes as the Shiba Inu community takes up the charge of defending its favorite project in the wake of events that unfolded in the past week.
As reported over the weekend, the Shiba Inu community received a new designation as the new "Defense Breed."
The earlier "Breed" team was tasked with combating FUD and settling deals with various firms on behalf of Shiba Inu. A scroll through Twitter feeds indicates chatter about Shiba Inu, Shibarium and other elements of the ecosystem.
The number of Shiba Inu holders is also growing and is currently 1,326,206, according to WhaleStats data.
Shiba Inu's large transactions jump 131%
According to IntoTheBlock data, large transactions on the Shiba Inu network are up 131% in the last 24 hours. Large transaction spikes are typically attributed to increased activity from whales or large holders, who are either buying or selling.
WhaleStats reports that two Ethereum whales added over 1.12 trillion Shiba Inu to their holdings in separate transactions of 899.99 billion SHIB and 122.04 billion SHIB each.
Shiba Inu was trading up 1.18% at $0.0000108 at the time of writing, according to CoinMarketCap data. Also in the past 24 hours, a total of 11,113,873 SHIB tokens have been burned, in nine transactions.