Shiba Inu Rockets Over 360% in Whale Transactions: What’s Behind the Surge?
- SHIB experienced a s363% surge in large transactions valued at over $100,000.
- Whale transactions soared from $32.06 million to $116.44 million, exchanging 11.98 trillion SHIB tokens.
- Despite a nearly 20% price surge in a week, a sudden sell-off prompted scrutiny of its cause.
Shiba Inu (SHIB) has set the crypto world ablaze with an unprecedented surge, witnessing an astonishing 363% spike in large transactions valued at over $100,000 within a mere 24 hours. This seismic shift in activity within the SHIB ecosystem has left industry insiders and enthusiasts alike stunned.
Whale transactions, the hallmark of this surge, catapulted from a modest $32.06 million to an astounding $116.44 million, unveiling a staggering exchange of 11.98 trillion SHIB tokens. Such monumental movement in the market, unmatched since last August, has sparked fervent speculation about the forces driving this remarkable upheaval.
Amidst this whirlwind, SHIB’s price trajectory has been nothing short of remarkable. Experiencing a nearly 20% surge in just a week, the token maintained an impressive bullish trend throughout the opening days of December. However, the landscape abruptly shifted as yesterday’s trading session unveiled a rapid sell-off. This sudden downturn cast a lingering shadow of uncertainty, prompting a chorus of questions regarding the underlying catalysts for this surprising market movement.
Analysts and experts, taken aback by the rapid fluctuations, scrambled to dissect the root cause behind this unexpected sell-off. The prevailing assumption suggested a correlation between whale activity and market shifts. However, a closer examination of the Large Holders Netflow metric disrupted this narrative, revealing a remarkable net inflow of 3.873 trillion SHIB to the wallets of the largest holders. This revelation challenges the conventional wisdom, injecting a layer of complexity into the understanding of SHIB’s recent market behavior.