Shiba Inu (SHIB) Experiences 220% Surge in Large Transactions Amidst Battle for Stability

Shiba Inu (SHIB) Experiences 220% Surge in Large Transactions Amidst Battle for Stability

Shiba Inu (SHIB) is witnessing a resurgence in growth metrics, signaling a potential price rally for the second-largest meme coin. Recent data from crypto analytics platform IntoTheBlock (ITB) reveals a remarkable 220.57% increase in Shiba Inu’s large transaction volume within just 24 hours, soaring to an impressive $141.7 million.

Shiba Inu Large Transactions Rises

According to ITB’s criteria, large transactions encompass SHIB deals valued at a minimum of $100,000. This metric has witnessed a substantial surge over the span of two days, with the number of such transactions climbing from 164 on March 26 to 418 as of March 25. Concurrently, the SHIB valuation associated with this surge spiked from 1.59 trillion tokens to 4.79 trillion units during the same period. Large transactions surged from $44.2 million in dollar terms to the current $141.7 million.

Source: IntoTheBlock

Shiba Inu whales, known for their significant influence on SHIB’s price movements, have played a pivotal role in driving this surge in large transactions. This upswing is particularly notable as Shiba Inu strives for a substantial recovery amidst recent market challenges.

Related article: Shiba Inu Surges in Popularity Across Europe

Potential for Sustainable Growth

Despite recent setbacks, Shiba Inu has maintained a relatively positive growth trajectory since shedding one zero from its price. Despite market downturns in recent weeks, the token has sustained an impressive 20.92% growth over the trailing seven-day period.

As of the latest update, Shiba Inu is trading at $0.00003095, reflecting an 11.78% increase over the past 24 hours.

The substantial increase in large transactions underscores renewed investor confidence in Shiba Inu’s potential. This surge not only reflects a resurgence in market activity but also signals a collective effort by Shiba Inu whales to bolster the coin’s value. The current price uptick suggests that SHIB may be on the cusp of a sustainable breakout.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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