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Shiba Inu Whale Alert: $89.88 Million SHIB Transaction Sparks 1,300% Surge

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Tue, 9/01/2024 - 15:30
Shiba Inu Whale Alert: $89.88 Million SHIB Transaction Sparks 1,300% Surge
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In an unexpected twist, the Shiba Inu token (SHIB) has undergone a remarkable surge in on-chain dynamics. The latest data from blockchain analytics platform IntoTheBlock reveals an astonishing spike of 1,300% in large whale transactions involving SHIB within the last 24 hours.

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Whale transactions, those exceeding $100,000 in SHIB equivalent, saw an unprecedented surge, totaling an impressive 62 transactions during this short time frame. The cumulative volume of these whale transactions skyrocketed to an astounding 9.38 trillion SHIB, equivalent to a staggering $89.88 million in dollar terms.

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Source: IntoTheBlock

This surge follows a significant dip in the same metrics, hitting their lowest point in a long time. The sudden spike in large transactions, however, is the most substantial since mid-December, indicating a dramatic increase in whale activity on the Shiba Inu token over the past 24 hours.

What's next for Shiba Inu token?

The pressing question on the minds of SHIB enthusiasts is where this surge will lead the price of the Shiba Inu token in the near future. The community eagerly awaits the answer, recognizing the potential impact of such whale activity on the market.

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As the SHIB community anticipates the unfolding developments, one thing is certain – the market will not be kept waiting for too long before providing an answer to the burning question: what's next for the Shiba Inu token?

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