Shiba Inu (SHIB) Whales In Action! Is the 30 percent increase a harbinger of an uptrend?

in 2021 dogecoin meme token bull starting with shiba inu and early investors made gains that were unimaginable.

Shib, affected by the bear market in cryptocurrencies, also wiped out a large part of these gains, leaving many late investors inside.

Despite the crypto winter, we see continued interest in meme tokens. Investors who think that the earning potential on this side is higher, continue to invest without paying attention to the fact that the risk is also higher.

Some on-chain data shows Shiba Inu whales are moving with the new week.

Have Whales Landed in Water?

According to Intotheblock data, whale concentration is measured at 69% so called big transfer in the last 24 hours Shib transfers exceeding $100,000 rose 31%.

Since we do not know exactly whether these increases on the network are related to new purchases or internal transfers, it would not be correct to make a comment on the price based on this data.

When we look at Shibburn’s data, we see that 50,000,000 Shibs have been burned in the last 24 hours. Although this data shows a 584% increase in burns, the approximate value of 50 million Shibs is $500. Therefore, this increase will not have a direct effect on the market.

We will be watching whether the 30% increase in large transfers will have a positive contribution to the price.

As of our news, the Shiba Inu is 88% off its peak and is trading at $0.00001030.