Dog-themed cryptocurrency Shiba Inu (SHIB) has triggered a 268% surge in whale activity amid a price rebound.
Large transaction volume, which indicates whale activity, either buying or selling, increased 268.26% in the last 24 hours. The volume of large transactions, defined as those worth more than $100,000, was $98.12 million in monetary terms during the specified time frame.
According to IntoTheBlock data, large transaction volumes increased dramatically, from 1.07 trillion SHIB on April 28 to 4.17 trillion SHIB on April 29.
The increase in this whale measure follows a price rebound for Shiba Inu, which had been declining in the previous four days.
As the price of SHIB recovers, whales — holders of large amounts of cryptocurrency — have been quick to capitalize on the opportunity, executing sizable transactions and driving up large transaction volume.
As large transaction volume surges, it might be essential to pay attention to large holder netflows, which provide an idea of the change in whale positions.
In this regard, Shiba Inu is seeing negative netflows of 309% on a seven-day basis, which suggests that whales might be reducing their positions or selling as uncertainty looms on the broader crypto market.
At the time of writing, SHIB was trading at $0.0000235, marking a 4% increase over the past 24 hours. SHIB is down 12.05% in the last seven days.
Shiba Eternity gets new upgrade
Shiba Eternity, the Shiba Inu CCG game, has been significantly upgraded, marking the third major update this month. The most recent version, 1.2.7, has significant enhancements aimed at increasing player interaction and strategic depth. The updated social menu now loads and manages friends lists quickly, making it easier than ever for gamers to connect.
A significant change in the game mechanics affects fighters using beta passively. These fighters have been adjusted so that when they are destroyed, they no longer deal debuff damage to neighboring friendly fighters.
In other exciting news, the SHIB/JPY trading pair has now been listed on Binance Japan.