Popular meme coin Shiba Inu (SHIB) recorded a large increase in its whale activity indicator. SHIB saw a 551.43% jump in the volume of large transactions involving transfers of more than $100,000. Major transaction volumes jumped from 902.36 billion SHIB to 5.9 trillion SHIB on January 14, according to IntoTheBlock data. The increase in large transaction volumes often indicates great activity among whales.
SHIB worth $56.45 million was seen in major transactions in the last 24 hours. This corresponds to 5.9 trillion SHIB in crypto. The total trading volume reported in the last 24 hours is 6.61 trillion SHIB.
SHIB Price Movement
It is currently the 17th largest by market cap. cryptocurrency Its unit, Shiba Inu, was traded at $0.00000964 at the time of writing, losing 0.12% in the last 24 hours.
The cryptocurrency market has been under pressure since spot exchange-traded funds (ETFs) began trading in the United States last Thursday. Despite the decline, SHIB remains in the green for the week, up 3.77% over the last seven days.
On the other hand, if declines continue, SHIB is likely to face significant support at $0.0000085, where it has rebounded twice so far this January.