One of the leading meme coins Shiba Inumanaged to attract attention with a 99% increase in whale activity.
According to IntoTheBlock data, SHIB recorded a 99% increase in major transaction volume by whales.
An increase in large trading volumes generally indicates high activity among whales in the direction of buying and selling. The major trading volume reported in the last 24 hours is 973.25 billion SHIB, equivalent to $8.77 million in monetary terms.
As Koinfinans.com reported, Shiba Inu had recorded a sharp decline in major trading volume after reaching 20.2 billion SHIB on January 24.
Having struggled to recover, Shiba Inu have not recorded additional good days in whale volume since then, other than occasional spikes. One of them was recorded in the last 24 hours, when major transaction volume almost doubled. The largest volume occurred on February 1 with 490.5 billion tokens, and on February 2 with 973.25 tokens.
Shiba Inu Price Movement
Although SHIB temporarily rose to $0.00000967 on January 30, the bulls were unable to sustain the advance and the price fell to $0.00000878 days later. In another attempt, the bulls picked up a recovery from the $0.00000878 lows, which was trending steadily even till press time.
Overall, the price is trading at $0.000009, up 0.38% in the last 24 hours. If the day ends like this, the rise will occur for the third day in a row. If the bulls maintain their current momentum, the first sign of a breakout will be a sustained close above the daily MA 50 at $0.00000987.
