As a seasoned researcher with a keen eye for market trends and a deep-rooted passion for cryptocurrencies, I find myself intrigued by this surge in whale activity surrounding Shiba Inu (SHIB). The spike in large transactions is undeniably impressive, but it’s the significant increase in average transaction size that truly catches my attention.
In simple terms, there’s been a significant surge (over 100%) in large transactions related to Shiba Inu (SHIB) cryptocurrency within the past 24 hours, according to IntoTheBlock’s recent report, suggesting increased activity by large investors or “whales.
The number of transactions exceeding $100,000 has increased to a staggering 4.15 trillion SHIB, representing an impressive addition of over 2.16 trillion tokens. This growth translates to a financial boost of approximately $36.06 million in USD terms. Moreover, the total transactions for just the previous day amounted to a substantial $70.31 million.
To put it simply, out of all these instances, we’re looking at about 110 big transactions. Each of these transactions, on average, held approximately 37.73 billion SHIB or around $639,181 – a value that’s about 6.4 times greater than the usual amount.
What’s the sentiment, though?
Although this measure offers a peek at whale actions within the cryptocurrency market, it doesn’t accurately reflect the sentiments of major players. To grasp their sentiments more clearly, we examine the large holder netflow statistic instead, which monitors the overall inflow and outflow from wallets possessing no less than 1/10th of the token’s total supply.
Over the reviewed period, the difference between incoming and outgoing Shiba Inu token transactions at these addresses amounted to approximately 57.07 billion SHIB. This figure represents an 84.4% increase compared to the previous day. Diving deeper into this number, a significant influx of Shiba Inu tokens into whale wallets was observed at around 1.67 trillion SHIB, with a relatively smaller outflow of approximately 1.62 trillion SHIB.
So, basically, whales are bullish on SHIB, at least today. Are you?
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2024-10-10 17:42