As a seasoned crypto investor with a knack for deciphering market trends and whale activity, I find myself intrigued by the recent surge in Shiba Inu (SHIB) transactions among large investors. With over 170% increase in large transaction volumes within the past 24 hours, it’s hard not to take notice of this dog-themed cryptocurrency amidst the broader market sell-off.
Over the past day, there’s been a noticeable surge in large investor transactions involving Shiba Inu, the canine-themed digital currency (SHIB), despite a broad sell-off affecting the overall crypto market
Based on figures from IntoTheBlock, the number of significant transactions involving Shiba Inu has surged by an impressive 171%, amounting to approximately $25.81 million, or 1.97 trillion SHIB when converted into cryptocurrency units
Daily Whale & Institutional Transactions Total refers to the cumulative sum of transactions conducted by large players (whales) and institutions on a given day. A surge in daily Whale & Institutional Transactions Total could suggest heightened activity among these large investors, implying either increased buying or selling actions
Transactions that exceed $100,000 worth of cryptocurrency are frequently used as a significant signal to gauge the overall sentiment or trend in the market
Institutional traders and big investors’ busiest times frequently coincide with highly volatile market periods. The recent increase in Shiba Inu whale transactions could imply that these large token holders are either buying more of the coin or transferring substantial amounts to various wallets. This activity surge occurs while the overall crypto market is facing a downturn
Crypto market dips, with $200 million in liquidations
The indications of economic instability in both the U.S. and China are causing concern among investors, making an already challenging time for international markets even more troubling, reminiscent of the market downturn that occurred on August 5
The bearishness has spread to cryptocurrencies, with traders anticipating the U.S. jobs report on Friday as regards the outlook on the economy.
Bitcoin dipped to its lowest point in a month as investors pulled back from risky assets worldwide, spurred by worries about the economy, causing other significant digital currencies to incur losses as well
At the time of writing, SHIB had dropped 3.85% in the previous 24 hours to $0.0000131.
Based on information from CoinGlass, the amounting crypto market liquidations have dramatically increased a significanty increased by an astounding 247% over the past day to reach approximately $200.09 million. This surge was primarily driven by optimistic traders who had wagered around $170 million on price rises, as indicated by long liquidations. In contrast, short liquidations accounted for roughly $30 million
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2024-09-04 18:41