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Shiba Inu Witnesses Whales' Giant Transactions: What Does the 5.52 Trillion Transfer Mean?
While Shiba Inu on-chain transactions have been quite active in the last 24 hours, the increase in whale transactions has attracted attention. According to IntoTheBlock, the number of transactions involving SHIB tokens of $100,000 or more increased by 1314%.
The increase in whale transactions means that the trading volume increased from $4 million just one day ago to $64 million in just one day.
One of the main reasons behind this increase was that an anonymous wallet sent 4.23 trillion SHIB tokens to Bitvavo for $44.46 million. The whale came at a time when activity was at its peak.
As reported by Koinfinans.com, the price of Shiba Inu also increased during the same period, trading at 0.00001071. This marks the highest token price range since the launch of the Shibarium project at the end of August, indicating a potential breakout. This new surge in both whale activity and token price marks a challenging and possibly transformative phase for SHIB.
However, the recent movement of 5.52 trillion Shiba Inu tokens also affects the thinking of investors, making it difficult to predict the direction of the trend.
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