Shiba Inu: A party of On-chain activities and frantic whales

In the kingdom of Shiba Inu, it’s a celebration! Recent figures reveal a remarkable increase in on-chain transactions and frenetic whale activity. The ShibArmy displays unwavering confidence.

Shiba Inu: A Spectacular 300% Surge on the Chain

In the upper echelons of major exchanges such as Gate.io and GroveX, Shibarium shines brightly with pride, totaling 318.49 million transactions and 2.89 million blocks, while boasting a TVL of nearly $803,084, defying the vagaries of the crypto market by the end of January. Lucie, the spokesperson for Shibarium, revealed at this time lofty ambitions, with the planned integration of over 1,000 projects to the L2 network and strategic partnerships on the horizon. Since its launch in August 2023, Shibarium attracts prestigious projects, recently surpassing the 300 million transaction mark.

ICYMI: #ShibaInu whales trigger 300% on-chain surge with trillions of $SHIB shifted https://t.co/rtGS5oT4Io #SHIB #SHIBArmy

— U.Today (@Utoday_en) February 9, 2024

Looking at this U°Today report, Shiba Inu is on fire! With an astounding 296% increase in on-chain activity in the last 24 hours, this cryptocurrency is back in the spotlight. Data provided by IntoTheBlock reveal a sudden surge in major transactions involving SHIB, thus catapulting the value of this meme crypto to new peaks.

The volume of these significant transactions exploded, going from 1.92 billion to an unprecedented peak of 5.68 trillion tokens, driving the dollar value from $17.32 million to $52.32 million. This remarkable increase is accompanied by a diversification of transactions, with 68 transactions of over $100,000 recorded in the past day, more than triple the number observed the day before.

Does this spike in activity signify a new craze for the meme coin Shiba Inu? Or is it a sign of a market in full effervescence? Only the future will tell, but for now, investors are closely watching the evolution of this iconic cryptocurrency.

Soaring Prices

Shiba Inu (SHIB) is once again drawing attention, with the return of key players to its network. A notable increase in whale activity on SHIB coincides with a rise in price, with the token having climbed more than 6% in the last three days, reaching its highest level in over two weeks. SHIB is priced at $0.0000093 per token at the time of writing this article.

The question on everyone’s lips: has this increased whale activity directly influenced the price spike, or is it a consequence of it?

In any case, Shiba Inu is now a focal point in the cryptocurrency market, attracting enthusiasts and traders who are closely monitoring the dynamics of whales and the skyrocketing SHIB quotes. Eagerly looking forward to one cent per coin, they say.