Shiba Inu Whales Trading Volume Increases 639% as Price Holds

WhaleStats’ An analysis of the top 100 Shiba Inu holders reports that 24-hour trading volume for this address category increased by 639%. Additionally, according to data from IntoTheBlock, Shiba Inu whales have been on their toes over the past 24 hours as the number of large transactions jumped 61%.

Increased activity among institutional participants, or whales, buying or selling, is often indicated by spikes in large transactions.

Analysis of the top 100 Shiba Inu owners, courtesy: WhalesStats

Additionally, a 57.41% increase in active addresses was seen in the analysis of these top Shiba Inu holders as crypto whales engaged with millions of Shiba Inu, increasing the volume of large transactions. Over the past 24 hours, the average SHIB balance and value increased by 18.53% and 3.06%, respectively.

This comes as Shiba Inu rallies back to the key psychological level of 0.00001, which has served as a support level since early July.

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According CoinMarketCap, Shiba Inu was trading at $0.00001044 at press time, still down 7.48% in the past 24 hours and 12.84% in the past week.

Bitcoin and the majority of altcoins faced another rout, swayed by investor apprehension ahead of an impending Federal Reserve interest rate hike and growing regulatory scrutiny of the cryptocurrency industry. cryptocurrency.

WhalesStats also reported that SHIB was in the top 10 by trading volume among the top 500 ETH whales in the past 24 hours. The top 1,000 ETH whales now hold $641,196,371 worth of SHIB as Shiba Inu maintains its position as the largest token among the top ETH whales.

Shib Burn Visa card in progress

An upcoming SHIB Burn Visa card, which burns SHIB while making payments, has been unveiled by Shib Burn Tracker, which bills itself as the first dedicated burning initiative in the cryptocurrency world. Shiba Inu Burn Tracker Twitter account@shibburn, posted the announcement in a video teaser with the message “Make payments, burn SHIB”.

Separately, US printing company Printful now accepts Shiba Inu and other cryptocurrency payments via BitPay.