Shiba Inu (SHIB) has staged a remarkable comeback against market bears and witnessed an unprecedented increase in on-chain activities. According to data from IntoTheBlock, large transactions worth $100,000 or more have increased by a staggering 385% in the last 24 hours.
Behind the scenes, whale transactions involving SHIB rose from $19.54 million to $69.32 million, resulting in the exchange of an astronomical 7.29 trillion SHIB tokens. This increase in whale activity not only underscores the renewed interest of investors. It also signals an uptick in market sentiment surrounding the Shiba Inu.
On the price front, SHIB has rebounded with a gain of 5.4% in the last 24 hours. In this context, on Monday, cryptocurrency It survived the significant decline witnessed in the market.
Shiba Inu (SHIB) Price Outlook
Although SHIB has pulled back from the expected $0.00001 per token, it is still holding steady around $0.0000096. For many Shiba Inu enthusiasts, this price level remains an attractive proposition, especially considering the token’s value at the beginning of December.
Big meme coin The increase in inflows from owners also contributes to the positive momentum. Over the last 24 hours, this key indicator for the popular token has increased by an impressive 539%, reaching a volume of 5.61 trillion SHIB.
This influx highlights a significant accumulation of tokens in the wallets of the Shiba Inu’s largest whales. In stark contrast, outflows were quite low at SHIB 923.82 billion, highlighting the prevailing confidence among large holders.