2.75 Trillion SHIB in Hours, What’s Going On?
The post 2.75 Trillion SHIB in Hours, What’s Going On? appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.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. According to data from IntoTheBlock, Shiba Inu (SHIB) has seen a staggering 2.75 trillion SHIB recorded in large holder outflows alone in the past day. This movement is part of an even larger trend, with the total large transaction volume for SHIB hitting 6.37 trillion SHIB in the past 24 hours. The 2.75 trillion SHIB in outflows adds to a 754% increase over the last seven days. Conversely, large holder inflows — the movement of funds into whale addresses — reached 1.9 trillion SHIB in the last 24 hours, adding to a 133% surge weekly. Large transaction volumes often indicate increased activity among whales, of which Shiba Inu was seeing a 55.81% increase in the last 24 hours. The rise in outflows coincides with a broader crypto market sell-off this week, which might have influenced SHIB large holders to move substantial amounts of tokens. Related At the time of writing, SHIB was down 23.28% in the last 24 hours to $0.00001874. The ongoing sell-off might explain why outflows have significantly outpaced inflows. With prevailing market sentiment leaning bearish, significant outflows suggest some whales may be cashing out amid broader market uncertainty. What it means Large Holders Outflow from IntoTheBlock tracks the funds going out of addresses belonging to whales. Large Holders Outflow,Courtesy: InToTheBlock Large Holders Outflow can…
Filed under: News - @ December 20, 2024 5:16 pm