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Sujit Kumar
May 31, 2024
by Sujit Kumar

Shiba Inu Sees Surge in Average Transaction Size

Shiba Inu Sees Surge

Table of contents

  1. Variability in Transaction Sizes
  2. Increase in Large Transactions
  3. Implications for Market Volatility
  4. Conclusion
Shiba Inu (SHIB) has experienced significant growth in its average transaction size, suggesting increased involvement from major market players. Over the past seven days, the average transaction size for SHIB rose to $25,339, peaking at $42,860. This rise indicates that whales are becoming more active, which could lead to greater market volatility and significant price movements.

Variability in Transaction Sizes

During the observed period, there was notable variability in transaction sizes, with the lowest average being $8,023. This fluctuation underscores the dynamic nature of investor behavior in the SHIB market. The average balance in SHIB wallets remained relatively stable, averaging $18,983 over the week, with a high of $20,442 and a low of $18,032. This stability suggests that large holders are maintaining their positions despite occasional market shifts.

Increase in Large Transactions

The number of large transactions has also seen a noticeable increase. In the last 24 hours alone, there were 361 large transactions, with a seven-day high of 584 and a low of 102. This growing activity among major players underscores their increasing presence in the SHIB market. The total volume of large transactions reached a seven-day high of 11.65 trillion SHIB, indicating significant liquidity and market engagement. On the previous day, the volume of large transactions was 6.93 trillion SHIB.

Implications for Market Volatility

As whales continue to accumulate and trade larger quantities of SHIB, increased market volatility is expected. The significant rise in average transaction size and the stability of average wallet balances suggest that larger investors are preparing for potential future price movements. This heightened activity could lead to more substantial price fluctuations and increased overall market dynamics for Shiba Inu.

Conclusion

The surge in Shiba Inu's average transaction size and the increased involvement of whales highlight a period of potential volatility and significant market activity. Investors should keep an eye on these developments as they may signal major price movements in the near future.

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Shiba Inu Sees Surge in Average Transaction Size
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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