Shiba Inu Records 2,500% Spike In Whale Activity, SHIB Price About To Skyrocket?
February 13 2024 - 4:00AM
NEWSBTC
The Shiba Inu ecosystem is buzzing with renewed excitement as whale
activities are rising and daily transactions are surging to new
levels. Amid SHIB’s price stagnation over the past few years, these
developments could propel the cryptocurrency’s value to new
highs. Related Reading: Shiba Inu Burn Rate Spikes By Nearly
200% As Price Recovers Shiba Inu Whale Activity On The Rise Popular
doggy-themed cryptocurrency SHIB has recently experienced a massive
rise in whale inflows. According to data released by crypto market
intelligence platform IntoTheBlock, Shiba Inu experienced a surge
of 2,595% in large holder inflows. The cryptocurrency witnessed a
substantial surge between Wednesday, February 7, and Friday,
February 9, resulting in an impressive spike in inflows from 275.2
billion SHIB to a staggering 2.31 trillion SHIB. Additionally,
around Thursday, February 8, and February 9, the Shiba Inu
cryptocurrency witnessed another surge, as large holder inflows
rose from 1.4 trillion SHIB to 2.31 trillion SHIB. These
large gains have marked a notable shift in investor sentiment
regarding SHIB, effectively capturing the attention of the broader
cryptocurrency market. Lately, there has been an evident increase
in whale activities within the Shiba Inu ecosystem. This has led
market watchers and investors to closely monitor the token, seeking
insights into factors driving these significant whale
movements. Shiba Inu’s marketing lead and influencer, Lucie,
has also projected a bullish outlook for the company. According to
her post on X (formerly Twitter), Shiba Inu could be one of the
major altcoins taking advantage of the 2024 bull run. She explained
that when the bull market phase starts and capital pours into
prominent cryptocurrencies like Bitcoin and other major altcoins,
the momentum will likely extend into Shibarium, potentially
triggering a price surge for SHIB. SHIB Sets Course For
Potential Price Surge In addition to the rise in whale activities,
SHIB has experienced a notable increase in daily transactions and
new active users. Data from ShibariumScan reveals a surge in daily
transactions from 526,090 on February 9 to 2.04 million on February
11. At the time of writing, daily transactions have dropped
slightly, standing at 1.88 million. The surge in large
investor purchases and daily transactions could indicate a possible
spike in the price of Shiba Inu soon. Usually, a rise in
transactional volume signifies an increase in investor interest and
adoption of a cryptocurrency, which further contributes to
increased demand and potentially impacts market sentiment.
According to CoinMarketCap, the price of SHIB is currently at
$0.0000095, reflecting an impressive 2.76% gain in the past 24
hours. Crypto previously struggled to keep up with the pace of
bullish trends in the crypto market. Related Reading: Shiba Inu On
Cusp Of Lunar Launch As 1.3 Trillion SHIB Barrier On Crosshair
However, with recent positive developments fueling market
sentiment, Shiba Inu may be poised to experience an exponential
surge if it can break through key limitations and price
resistance. Cover image from Dall-E, chart from Tradingview
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