Shiba

Shiba Inu

Billion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">Shiba Inu's</a> on-chain volume surged, apart from the burn volume. For now, the transactional volume of Shiba Inu has hit 2.6 trillion SHIB, with almost 10% of it belonging to Coinbase's <a href="https://u.today/key-drivers-of-coming-shib-power-increase-revealed-by-shib-executive" rel="noopener noreferrer nofollow">transactions</a>.&nbsp;
According to the most recent information, Coinbase's hot wallet carried out two sizable transactions in the last day that accounted for about 260 billion SHIB. The total value of these transactions is about $402 million. <img alt="SHIBUSDT" data-entity-type="file" data-entity-uuid="eee002dd-1aed-4bc4-a605-d0a9c3de94ef" src="https://u.today/sites/default/files/inline-images/image_951.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SHIB/USDT Chart by TradingView</a>
A major exchange like Coinbase has increased activity, which could indicate a resurgence of interest or a redistribution of funds among whales. It is clear from an analysis of the on-chain data that the Shiba Inu market is undergoing significant changes. At the week's low there were 47 transactions, but there has been a noticeable increase in the number of large <a href="https://u.today/michael-saylor-breaks-silence-on-bitcoin-returning-above-63000" rel="noopener noreferrer nofollow">transactions</a>, which has reached 65.
The increase in big transactions raises the possibility that institutional investors or major holders are moving, perhaps ahead of expected changes on the market. In addition, there has been a discernible rise in the volume of large transactions in U.S. dollars.&nbsp;
With a volume of $45 million over the past 24 hours, it is evident that the Shiba Inu market is seeing significant capital flow. This increase in <a href="https://u.today/xrp-to-skyrocket-next-week-ethereum-eth-not-losing-3370-will-solana-sol-reach-150-again" rel="noopener noreferrer nofollow">volume</a> is indicative of greater liquidity and possibly increased investor interest, which is a good sign.&nbsp;
The asset is having difficulty holding onto its value in the face of larger market pressures, as evidenced by the technical chart of SHIB/USDT, which displays a protracted downtrend. On the other hand, the recent spike in transaction volume might indicate a turning point, or at the very least, a stabilization phase.

260 Billion Shiba Inu (SHIB) in 24 Hours From Coinbase: What's Happening?

U_Today

Outros artigos publicados em 1 de jul. de 2024

5 Underrated Altcoins Fuelling Deflation With Token Burns

Oil King Pepe Surges to $5.6 Million and Prepares to Skyrocket Another 18,000% Ahead of KuCoin Li...

Arbitrum and Optimism Experience Significant Transaction Growth

Polymarket Trading Volume Surges Over $100M Amid US Election Frenzy

Meme Coin Frenzy: Solana-based Meme Coin Sealana Presale Surpasses $5M with Days to Go

Nigeria Crypto Regulations: Stakeholder Advocate the Adoption of Regulations Inspired by Europe

Join our free newsletter for daily crypto updates!