Shiba

Shiba Inu

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
In a recent turn of events, the&nbsp;<a href="https://u.today/xrp-shiba-inu-shib-and-pepe-suddenly-soar-outperforming-other-top-coins">Shiba Inu token (SHIB)</a> has experienced an unprecedented surge, catapulting a staggering 540% in a pivotal on-chain whale statistic. According to data provided by&nbsp;<a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all">IntoTheBlock</a>, the volume of large transactions involving SHIB has soared exponentially since the week commenced, marking a monumental leap from 1.24 trillion tokens to a jaw-dropping 6.68 trillion within a mere two-day span.
Remarkably, this astronomical growth translates into a remarkable surge in dollar terms, surging from $11.93 million to a substantial $70.45 million, highlighting a remarkable 590% increase. The surge in large transaction volume, which encompasses transactions of at least $100,000, underscores a significant uptick in investor activity, with a notable tally of 297 transactions recorded during the period under scrutiny, 175 of which occurred within the last 24 hours.
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="7ed07eaf-51d6-48d5-b8da-a9c2332b78ad" src="https://u.today/sites/default/files/inline-images/shib_208.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions">IntoTheBlock</a>
A noteworthy aspect of this surge lies in the disparity between volume and dollar terms, with the latter witnessing a more pronounced escalation. This phenomenon can be attributed to the remarkable ascent in&nbsp;<a href="https://u.today/enormous-17-trillion-shiba-inu-shib-in-24-hours-whats-up">SHIB's price</a>, soaring by over 20% during the review period.
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="591289ba-d6da-464c-9d14-e66b6dd805dc" src="https://u.today/sites/default/files/inline-images/shibprice_0.png">SHIB to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/">CoinMarkeCap</a>
The meteoric rise of the Shiba Inu token is not an isolated event but rather mirrors a broader trend of surging meme-based cryptocurrency quotes. In tandem with SHIB's exponential growth, other notable tokens such as&nbsp;<a href="https://u.today/pepe-joins-bitcoins-monster-rally-as-price-jumps-43">PEPE</a> saw a staggering 95% surge, DOGE experienced an 11.63% increase and BONK surged by 16%, underlining a widespread craze in the meme coin market.

Shiba Inu (SHIB) Skyrockets 540% in Key On-Chain Whale Stat

U_Today

Other articles published on Feb 28, 2024

US Senator Calls for Crypto Regulation: 'It Should Be Subject to the Same Regulations as Traditio...

Bitcoin ETFs Break Another Record With Skyrocketing Daily Volumes

Dione Protocol Price Prediction: DIONE Skyrockets 31% In A Week As This Green AI Presale Blasts P...

Nansen: While Bitcoin Passed $60,000, Whales Bought These Altcoins the Most!

Key Deadline Approaches in Ripple-Zakinov Lawsuit: What XRP Investors Should Know

Core Chain’s Vision Paper highlights how BTCfi will open the door to a trillion-dollar Bitcoin ec...

Join our free newsletter for daily crypto updates!