Popular meme coin Shiba Inu (SHIB) experienced a staggering 3,220% increase in large holder net flows. This unprecedented increase in net flows demonstrates intriguing movements by whales accumulating or selling. Large holder net flows, which track the movement of SHIB tokens between wallets holding significant amounts of cryptocurrencies, provide valuable insight into the behavior of whales and institutional investors. An increase in inflow from large holders indicates accumulation, while decreases in this metric may indicate selling. The increase in net flows from major holders may reflect a significant increase in institutional interest in SHIB, indicating increased confidence in the cryptocurrency’s long-term viability. In the last 24 hours, 9.94 trillion SHIB was seen in large transactions with trading volume greater than $10,000.
At the time of writing, SHIB is trading at $0.0000324, up 2.27% in the last 24 hours. Shiba Inu’s 24-hour trading volume increased by nearly 51%, with $2.41 billion worth of transactions. SHIB, with a market value of 19.05 billion dollars crypto- It ranks 11th in the market rankings.
Shiba Inu Takes Second Place at Upbit
The Shiba Inu has seen a phenomenal increase in price and market value in recent weeks. In this context, Shiba Inu left behind an important milestone by becoming the second most traded asset on Upbit after Bitcoin (BTC) in terms of transaction volume.
Upbit Korea is the largest cryptocurrency exchange in South Korea in terms of trading volume and customer base. This remarkable achievement therefore underscores the growing popularity and widespread adoption of SHIB among South Korean traders who are embracing cryptocurrency as a trading opportunity. According to Kaiko, Shiba Inu saw the largest volume last week at $31 billion, surpassing Dogecoin and other large-cap nonmeme altcoins like Solana (SOL).
You can access current market movements here.
