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Shiba Inu Whales' Activity up by Trillions as SHIB Price Reaches This Zone

Fri, 06/23/2023 - 11:27
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Gamza Khanzadaev
SHIB price hits epic milestone as Shiba Inu whales make waves
Shiba Inu Whales' Activity up by Trillions as SHIB Price Reaches This Zone
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According to IntoTheBlock, the Shiba Inu token experienced a remarkable increase in transactions valued at $100,000 or more. In just 24 hours on Thursday, these transactions skyrocketed by an astounding $11.76 million, representing impressive growth of 151.7%. This surge translates to a staggering 1.48 trillion SHIB, contributing to a total of 2.5 trillion SHIB within the past 24 hours.

Large Transactions Volume of SHIB by IntoTheBlock

This surge in large-scale transactions aligned with the exceptional behavior of the Shiba Inu token's price. Recent reports by U.Today indicate that SHIB outpaced the overall market, showcasing a remarkable 13% increase at its peak. As a result, the Shiba Inu token emerged as one of the most profitable assets of the day among the top 100 cryptocurrencies on the market.

Shiba Inu (SHIB) Massive Breakthrough: All You Need to Know

However, the crucial aspect lies in the destination of this price rally. The price of SHIB reached a pivotal mark of $0.0000084 per token, a level of critical resistance for the Shiba Inu token. In October 2021, SHIB surpassed and broke through this level, subsequently skyrocketing by 970% and achieving an all-time high of $0.00009 per token. The loss of this crucial level two weeks ago led to a staggering 35% decline in the price of SHIB, hitting a minimum not witnessed in over a year.

SHIB to USD by CoinMarketCap

Experienced investors often seek to establish positions close to key benchmarks, enabling them to make well-informed investment decisions. The heightened whale activity observed at this price level indicates the strategic considerations of these investors, potentially heralding further market dynamics.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.