As a seasoned researcher with a knack for deciphering the intricacies of the cryptocurrency market, I find myself both intrigued and cautious when observing the recent developments in Shiba Inu (SHIB). The surge in large transaction volume is certainly noteworthy, hinting at increased whale activity. However, the price remaining in the red suggests a broader market volatility that is hard to ignore.
Over the past day, there’s been a significant volume of transactions for the canine-inspired cryptocurrency Shiba Inu, amounting to approximately 2.23 trillion SHIB. This suggests that whales, or large investors, are transacting a substantial sum each day with this currency.
Based on IntoTheBlock’s data, the large transaction volume for Shiba Inu was approximately $36.81 million or 2.23 trillion SHIB over the past day, marking a 60.73% increase. However, despite this substantial activity, the price of Shiba Inu has remained in negative territory, mirroring the broader market’s unpredictability.
Currently, Shiba Inu (SHIB) has decreased by 4.83% over the past 24 hours, with its price standing at $0.00001689. On a weekly basis, SHIB has seen a decline of 12.83%.
As a researcher, I’m observing a widespread dip in cryptocurrency values on Friday, apparently triggered by a news piece suggesting that U.S. authorities are scrutinizing Tether, a stablecoin issuer. However, Paolo Ardoino, the CEO and CTO of Tether, has countered this report with denials. Yet, despite his refutation, the crypto market is still experiencing losses, as various digital assets continue to trade in the red.
An escalation in significant transactions could trigger heightened activity from Shiba Inu (SHIB) whales, as the market undergoes profit-taking. This hints at the possibility of major investors being actively involved in either buying or selling SHIB, potentially preparing for upcoming changes in the market.
The cost of a Shiba Inu right now is stuck within a specific range, set by its 50 and 200-day moving averages, which are $0.00001637 and $0.00001873 respectively. If it breaks free in either direction, the movement could establish the short-term trend for Shiba Inu’s price.
ShibaSwap gets major upgrade
As per the latest news, ShibaSwap has undergone a significant update. The long-awaited version 2 of ShibaSwap is now available, offering users a revised reward system, intelligent swapping mechanism, effortless migration process, detailed pair analytics at the level of each analysis, and pools with concentrated liquidity.
With the introduction of focused liquidity pools in the update, users will now be able to contribute liquidity over specific price ranges, enhancing both their flexibility and efficiency, and potentially yielding superior returns.
With the recent update, users now have an opportunity to collect rewards directly from their liquidity contributions, without having to withdraw first. Moreover, the estimated rewards are clearly displayed within the APR (Annual Percentage Rate) columns on the liquidity pools page for easy viewing. Notably, current liquidity providers can seamlessly transition from old pools to newer ones in a hassle-free manner.
With Smart Swap, users can effortlessly transition between the Version 1 and Version 2 pools, ensuring they execute trades at optimal costs. Additionally, comprehensive data on trade volume, value locked in total (TVL), and fees accrued will empower users to make wise trading decisions.
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2024-10-26 17:54