A rare on-chain anomaly has been detected in the Shiba Inu (SHIB) token over the past 24 hours. According to IntoTheBlock, the volume of large transactions in the popular meme-inspired cryptocurrency increased from 33 to 42 in the past 24 hours.
This can be considered a fairly large increase, as the sample includes transactions worth at least $100,000 - since there have been nine more such transactions in the past 24 hours, this means an increase of $900,000.
Godfrey BenjaminThis is often the case, that an increase in the number of large transactions leads to an increase in their volume. However, it is also an anomaly, as the volume of large transactions on the Shiba Inu token decreased from 3.21 trillion to 1.11 trillion SHIB over the past 24 hours. In monetary terms, according to the data, this decrease is equivalent to a drop from $43.52 million to $15.01 million.
Thus, we can see that despite the 27.27% growth in the number of transactions during the period under review, its volume fell by 65.4% in tokens and 65.5% in dollars.
Alex DovbnyaWhy would this happen? Probably because the average size of such a large transaction has decreased. Yesterday it was about $1.32 million, which is 13 times higher than the average. Today, however, the average size of a large 24-hour transaction has dropped to $357,380.
However, this is still 3.5 times higher than the norm, which means that despite the decrease in volume, whales' activity with the Shiba Inu token can be considered exceptional.
Tomiwabold Olajide