Shiba Inu (SHIB) Skyrockets 171% in Key Metric, Will Price Follow?
2024-09-24

Shiba Inu is in the spotlight amid the brooding SHIB price recovery moves. The meme coin project exhibits resilience in several market performance metrics, including price, and whale transactions are a major bullish streak. As of this moment, the price is up 3.8% in the past 24 hours to $0.00001465. Market whales play a crucial role in sustaining this price momentum.
Shiba Inu whale transactions soar
Per data from IntoTheBlock, large SHIB transactions jumped by 171% to $20.57 million. By its standard definition, IntoTheBlock labels transactions worth at least $100,000 as large, and by this, a total of 61 such transactions were registered on-chain. To this end, a total of 1.25 trillion SHIB were shuffled by whales in one day.
This major uptick underscores the growing interest from high-net-worth investors. Shiba Inu has a major historical trend in this regard, and when related data emerges, it proves a major shift is likely underway. SHIB Large Transactions via IntoTheBlock
In the trailing seven-day period, the meme coin project recorded a low of 335.4 billion SHIB and a high of 3.03 trillion SHIB tokens. If this level is sustained, it might help sustain the growth of Shiba Inu as it is currently being showcased on the market.
SHIB fundamental catalyst in action
There is hardly a more positive ecosystem in the digital currency sphere than Shiba Inu. The project's leaders and the broader community are often optimistic about its potential to achieve major milestones in the near future.
Recently, the team got the community excited, noting that something big is coming, with related posts hyping up interest. Shiba Inu has continued to innovate proactively as it looks to position its services for mass adoption.
SHIB remains the second-largest meme coin and is eyeing mainstream adoption through some of its projected games and product offerings.