Shiba Inu Whale Activity Soars, Fueling Hopes for Price Rebound

Shiba Inu (SHIB), one of the leading meme coins, has experienced a significant uptick in whale activity over the past 24 hours, according to data from on-chain analytics firm IntoTheBlock.

Whale transactions, which are defined as transactions worth $100,000 or more, have surged by 265% during this period, suggesting renewed interest from large investors.

This spike in whale activity follows a period of notable decline and profit-taking among Shiba Inu holders, especially after a dip in price that began in early December. Prior to this, whale activity had been on a downward trajectory, with large transactions dropping from nearly 19 trillion SHIB tokens on December 10 to just over 1 trillion SHIB by December 22.

However, the past day has seen a dramatic shift, with large transactions now totaling 3.75 trillion SHIB tokens, a 250% increase compared to the previous 24 hours. In monetary terms, these transactions have jumped from $23.06 million to $84.24 million, highlighting a sharp rise in large-scale trading.

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This revival in whale activity could signal the beginning of a price rebound for Shiba Inu, as large investors may be positioning themselves for a potential market recovery in the coming months.

With Shiba Inu’s current price at $0.00002229, showing a modest 3.1% increase over the past day, the question arises whether this surge in whale activity could help drive the price towards $0.00004. For this to happen, sustained buying momentum will be needed in the weeks ahead, possibly supported by other bullish indicators like increased network activity and token burns.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.