Shiba Inu Daily Volume Hits $224 Billion: Here’s What We Know
The post Shiba Inu Daily Volume Hits $224 Billion: Here’s What We Know appeared on BitcoinEthereumNews.com.
Shiba Inu (SHIB) has seen a massive spike in daily volume, reaching a total of 224 billion SHIB within 24 hours. This surge has attracted attention due to its connection with a significant rise in whale activity. The increase in large holder inflows and the overall transaction volume suggests a potential shift in market sentiment. Surge in Shiba Inu Whale Activity Data from IntoTheBlock shows a notable increase in large-holder inflows, which jumped from 96 billion SHIB on April 13 to 224.34 billion SHIB on April 14. Large holder inflows generally refer to transfers of tokens into wallets that belong to entities holding significant portions of the token’s total supply. A rise in these transactions often indicates accumulation, suggesting that whales may be preparing for a price movement. This influx of SHIB tokens into large wallets coincided with a 173% surge in large transaction volume. According to the same data, SHIB saw approximately 1.31 trillion SHIB being transacted in large volumes, worth around $15.66 million. This type of activity is often considered a signal of renewed interest from large investors or whales, who may be positioning themselves ahead of potential price changes. However, the overall trend in SHIB’s price remains uncertain, with the coin experiencing a slight decline in recent hours. Large Transactions and Market Sentiment The 173% increase in large transactions indicates that whale traders are actively moving SHIB, which could indicate a shift in market sentiment. These large transactions typically involve trades of $100,000 or more. When such trades increase, it often suggests that investors are rearranging their portfolios, possibly in anticipation of a future rally. Despite the surge in large transactions, Shiba Inu’s price has not shown consistent growth. As of the latest data, SHIB’s price was down 2.75% in the last 24 hours, trading at approximately…
Filed under: News - @ April 16, 2025 3:23 am