As a remarkable development Shiba Inu Transactions of whale addresses with assets of $100,000 or more in their network increased by 363%. This indicates a very significant growth in on-chain data.
According to these developments announced by IntoTheBlock, whale transactions involving SHIB jumped from $ 32.06 million in volume to $ 116.44 million and recorded a new peak. This increase in whale activity, the highest since last August, resulted in 11.98 trillion SHIB tokens being traded.
In addition to this on-chain growth, the Shiba Inu price continued its upward trend throughout the first six days of December, showing a significant 15% increase in price.
However, yesterday’s market activity witnessed an equivalent move in a single day, resulting in a rapid sell-off that left a noticeable long wick on the SHIB price chart. Contrary to expectations, a sharp change in the index does not necessarily mean negative news. Analysis of the Large Holders Net Flow metric revealed a significant net inflow of 3.873 trillion SHIB into the wallets of the largest holders.
This flow challenges the assumption that whales are responsible for sales and adds a layer of complexity to the narrative. While Shiba Inu continues to break multi-month records in terms of both on-chain activity and price movement. cryptocurrency The market continues to be awash with speculation.