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Sujit Kumar
Sep 17, 2024

Shiba Inu Sees Unusual Spike in Large Transactions Despite Volume Drop

Shiba Inu Sees Unusual Spike
Shiba Inu (SHIB) has witnessed an unusual on-chain activity, particularly in high-value transactions. Data from IntoTheBlock reveals that the number of transactions exceeding $100,000 rose from 33 to 42 within 24 hours. This surge represents an increase of about $900,000 in transaction volume, signaling active market participation.

Volume Decline Amid Transaction Surge

Despite the growth in transaction numbers, the total volume of large SHIB transactions experienced a significant drop. The volume fell from 3.21 trillion SHIB to 1.11 trillion SHIB, a decline of approximately 65.4%. In dollar terms, this translates to a reduction from $43.52 million to $15.01 million.

Average Transaction Size Decreases

This shift in market behavior can be attributed to a change in the average size of these transactions. The average transaction size dropped from $1.32 million to $357,380 within the same time frame, indicating a more distributed flow of assets among large holders. While this amount is lower than the previous day’s average, it still exceeds typical transaction sizes, pointing to sustained interest from “whales.”

What Does This Activity Mean for SHIB?

The increase in the number of large transactions, paired with the drop in total volume, raises questions about investor strategies. It’s possible that large SHIB holders are redistributing assets in smaller portions, or preparing for upcoming market movements. This unusual activity reflects continued interest in SHIB, despite fluctuations in transaction size and volume.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Shiba Inu Sees Unusual Spike in Large Transactions Despite Volume Drop
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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