Kusama

Shiba Inu

<div class="watcher-guru"> 
 <p>Shiba Inu’s whales have been notably active in the market, as seen by SHIB’s remarkable surge in large transaction volume. This surge could potentially mean that whales are accumulating SHIB, a development that could have a bullish impact on the asset’s price.</p> 
 <p>According to data from IntoTheBlock, Shiba Inu experienced a noteworthy 2187% daily increase in transaction volume. The network’s total volume amounted to $67.22 million, marking a significant rise from its previous low of $2.94 million.</p> 
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 <p>Furthermore, this surge appears to be linked to a series of transactions. Over the weekend, the network recorded only 13 large transactions, but this trend shifted as the increase was substantiated by 63 transactions.</p> 
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 <p>Surges in significant transaction volumes often signify heightened engagement from large-scale traders, either making purchases or sales. Several factors are likely behind the recent upswing in substantial transaction volume. To begin with, SHIB has recently experienced a significant decline of 22% in its price in the past month. This decline may be stirring whales to acquire SHIB at a reduced cost. However, the real reason might be associated with an exchange moving funds. </p> 
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 <p><strong>Also Read: Shiba Inu: Shytoshi Kusama Advocates for Adoption Instead of Burns</strong></p> 
 <h4 class="wp-block-heading" id="h-the-reason-behind-shib-s-increased-whale-activity">The reason behind SHIB’s increased whale activity</h4> 
 <p>According to WhaleAlert, a large transfer of 4,615,530,677,374 SHIB tokens valued at $35,694,206 occurred from Bitvavo, a staking firm in the Netherlands to an undisclosed wallet on the previous day. This sizeable movement of SHIB tokens has notably aided in a substantial increase of 1,512% in the inflow of tokens held by major investors</p> 
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    <p lang="en" dir="ltr">🚨 🚨 4,615,530,677,374 #SHIB (35,694,206 USD) transferred from #Bitvavo to unknown wallethttps://t.co/ZtTK0oWWWn</p>— Whale Alert (@whale_alert) September 4, 2023 
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 <p>Interestingly, the recent transfer from Bitvavo is not an isolated occurrence within this month. In summary, Bitvavo has facilitated the movement of a staggering 9,246,061,354,748 SHIB tokens. This was done over the course of the past three days. This is a notable increase compared to the firm’s activity in August. During that period they moved a total of 4.6 trillion SHIB tokens in a single transaction.</p> 
 <p>The latest movement barely affected the price of the meme coin. At press time, SHIB was trading at $0.000007568 with a 1.86% daily drop. </p> 
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 <p><strong>Also Read: Shiba Inu: 17% Americans Have Invested in SHIB</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>crypto</li> 
  <li>cryptocurrency</li> 
  <li>shib</li> 
  <li>shiba inu</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-large-transactions-record-over-2-000-boost-tbt61667.html">https://thebittimes.com/shiba-inu-large-transactions-record-over-2-000-boost-tbt61667.html</a></p>

Shiba Inu: Large Transactions Record Over 2,000% Boost

TheBitTimes

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