Shiba

April

Shiba Inu

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Dog-themed cryptocurrency <a href="https://u.today/shiba-inu-burn-rate-skyrockets-by-172-as-shib-price-rebounds" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> has seen a significant 61.39% increase in large transaction volume, which is usually suggestive of whale activity.&nbsp;
Large transaction volume is a crucial measure from <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a> that indicates the total amount transacted by whales on a particular day. Spikes in large transaction volumes point to high activity among whales, either buying or selling.
In recent days, there has been a decrease in the volume of large transactions for SHIB that exceed $100,000. SHIB reported a considerable reduction in large transaction volume, falling from 6.36 trillion SHIB on April 19 to 2.06 trillion SHIB on April 20.&nbsp; <img alt="IntoTheBlock" data-entity-type="file" data-entity-uuid="fd0d3a14-2be8-4002-9e6b-7224b87a3e4e" src="https://u.today/sites/default/files/inline-images/25042024%200000.PNG"><a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">Large Transactions Volume, Courtesy: IntoTheBlock</a>
Since this date, Shiba Inu's large transactions have flatlined between two trillion SHIB and 3.73 trillion SHIB, before a sudden rise on April 24.&nbsp;
Large transaction volumes increased from 3.73 trillion SHIB on April 23 to 6.23 trillion SHIB on April 24. The monetary value of large transactions in the past 24 hours reached $162.45 million, a seven-day high.&nbsp;
<h2 id="shib-drops-9">SHIB drops 9%</h2>
The timing of the large transaction volume rise is particularly interesting, as it coincides with a broader market collapse, with major cryptocurrencies losing between 4% and 20%.&nbsp;
<a href="https://u.today/shiba-inu-shib-jumps-8-as-price-makes-sudden-reversal" rel="noopener noreferrer nofollow">Shiba Inu</a> was not spared from the bearish trend, falling 8.69% in the last 24 hours to $0.00002486, despite rising 13% in the previous seven days. Thus, the resurgence of whale activity might signal renewed interest in the dog-themed token.
This is hardly surprising given that whales often utilize periods of correction to accumulate at a discount. The increase in transaction volume might suggest that large investors are once again positioning themselves on the market, potentially anticipating future price movements.
The return of <a href="https://u.today/shiba-inu-shib-stuns-with-570-inflow-surge-as-whales-return" rel="noopener noreferrer nofollow">SHIB whales</a> also comes at a time of heightened enthusiasm: Shiba Inu has just secured $12 million in funding, putting it on track to become a big participant in the crypto market.
As SHIB whales make a comeback, investors and traders will be closely monitoring market trends for clues about the cryptocurrency's price trajectory.

Shiba Inu Key Metric Skyrockets by 61% as SHIB Whales Return

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