Advertisement
AD

Main navigation

Advertisement

Shiba Inu Transactions Greater Than $100K Spike 47% Over 24 Hours, Here's What This Might Mean

Advertisement
Fri, 18/02/2022 - 13:03
Shiba Inu Transactions Greater Than $100K Spike 47% Over 24 Hours, Here's What This Might Mean
Cover image via stock.adobe.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

Recent data from IntoTheBlock analytics indicates that Shiba Inu transactions greater than $100,000 have risen by 47% over the last 24 hours. The SHIB price is experiencing a dip alongside the rest of the market.

Advertisement

Large transactions, often greater than $100,000, serve as a proxy for the number of transactions made by whales and institutional investors.

Article image
Image Credit: IntoTheBlock

The volume of these large transactions gives an idea of the total amount whales and institutional players transact in a given day.

Increases in the volume of large transactions indicate increased activity among large players either buying or selling. During periods of collapse, whales and wealthy investors have been known to accumulate more, opting for dip-buying.

Advertisement

Shiba Inu top whales have grown their balance by 45.7% amid price dip

The cryptocurrency market succumbed to widespread selling pressure as Bitcoin and altcoins pared off earlier gains accumulated. Subsequently, Shiba Inu's price slid to lows of $0.000277 from highs of $0.0000325 on Feb. 17.

Article image
Image Credit: WhaleStats

At the time of publication, SHIB was trading at $0.0000287. SHIB ranked 14th largest cryptocurrency by market capitalization and was down 7.78% in the last 24 hours, according to CoinMarketCap.

As per data from WhaleStats' analysis of the top 100 Shiba Inu whales, the average SHIB balance held by this category of large holders is up 45.69% in the last 24 hours. SHIB also remains the largest token holding among the top 1,000 ETH wallets.

The total number of SHIB holders keeps setting fresh highs and remains at 1,180,598 presently.

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