March 3, 2024

Taylor Daily Press

Complete News World

Shiba Inu’s Biggest Jump: $110 Million in Whale Business Despite Price Correction – BLOX

Shiba Inu’s Biggest Jump: $110 Million in Whale Business Despite Price Correction – BLOX

In a notable shift in the world of cryptocurrencies, the Shiba Inu (SHIB) has shown a significant increase in whale activity. Despite the recent price drop, the cryptocurrency has recorded an impressive increase in cross-chain transactions, indicating a strategic move by major players in the market.

Whale movements

The past 24 hours have been an impressive moment for the Shiba Inu, with a total value of $110.53 million. Large transactions. This represents a 275% increase in this activity, amounting to a staggering 7.22 trillion SHIB tokens.

Price volatility

Interestingly, this spike in activity coincided with a significant decline in the price of SHIB. The currency fell by more than 11%, from $0.00001195 to $0.00001. This indicates a complex market dynamic, where major players remain active despite price fluctuations.

Great owners behavior

Contrary to expectations, the influx of large holders shows that major players in the SHIB market did not reduce their positions during this price decline. Instead, they increased their shares by a whopping Sh6.32 trillion, up 407% from the previous day.

Market analysis

This whale activity amid falling prices appears to be a strategic move by influential market participants. After a staggering 45% rise in prices since early December, it seems that many players have decided to take profits, leading to the recent sell-off. However, on-chain statistics show that the biggest players not only weathered the storm, but also collected more SHIB during this period. Recent events surrounding the Shiba Inu highlight a fascinating development in the cryptocurrency market, with major investors remaining active despite price fluctuations. Their increased activity and accumulation of SHIB, even during market downturns, indicates a strategic and thoughtful approach to this dynamic and ever-changing sector.

See also  Scammers use AI to mimic audio: “A three-second clip is enough to fool victims” | outside