Shiba Inu: A group of chain activities and raging whales

Shiba Inu: A group of chain activities and raging whales


Sat 10 February 2024 ▪
4
min reading ▪ acc
Micaiah A.

It’s party time in the Shiba Inu Kingdom! Recent figures reveal a remarkable increase in on-chain transactions and frenzied whale activity. ShibArmy shows unwavering confidence.

Shiba Inu dog looking at whales, SHIBA logo

Shiba Inu: Spectacular 300% increase in channel

In the upper tiers of major exchanges such as Gate.io and GroveX, Shibarium shines brightly proudly totaling 318.49 million transactions and 2.89 million blocks, boasting a TVL of nearly $803,084, defying the vagaries of the crypto market at the end of January. Lucie, the spokesperson of Shibarium, revealed the disproportionate ambitions in this period, the planned integration of more than 1000 projects into the L2 network and strategic partnerships are not in sight. Since its launch in August 2023 Shibarium attracts prestigious projectsrecently crossed the threshold 300 million transactions.

In case you missed it: Shiba Inu Whales Spark 300% Increase in Activity on Chain with Trillions of $SHIB. »

To see this report from U°Today, the Shiba Inu is on fire! WITH a staggering 296% increase in chain activity in the last 24 hours, this cryptocurrency is back in the spotlight. Data provided by IntoTheBlock reveals a sudden increase in large transactions involving SHIB, catapulting the value of this crypto meme to new heights.

The volume of these substantial transactions exploded and missed from 1.92 billion to an all-time high of 5.68 trillion tokens, increasing the value of the dollar from $17.32 million to $52.32 million. This remarkable increase is accompanied by a diversification of transactionswith 68 transactions over $100,000 recorded during the past day, more than three times the number observed the previous day.

Does this surge in activity mean a new craze for the Shiba Inu memecoin? Or is it a sign of a booming market? Only the future will tell, but for now investors are closely monitoring the development of this symbolic cryptocurrency.

Rising prices

The Shiba Inu (SHIB) is once again attracting attention with the return of the main players in his network. A remarkable increase in whale activity on the SHIB coincides with price increase, with the token rising more than 6% over the past three days to hit its highest level in more than two weeks. SHIB is awarded at $0.0000093 per token at the time of writing this article.

The question on everyone’s lips: did this increased whale activity directly affect the price increase, or is it a consequence?

Regardless, the Shiba Inu is now central to the cryptocurrency market, attracting enthusiasts and traders who avidly follow the whale’s dynamics and skyrocket SHIB quotes. They look forward to 1 cent each, they say.

The blockchain and crypto revolution is in full swing! And on the day the effects are felt by the most vulnerable economy in this world, I will say against all hope that I had something to do with it

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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