Billions of Shiba Inu (SHIB) on Move by Whales as Transactions Jump 197%

Shiba Inu whales are making significant moves on the market, with large transactions increasing by 197% in the last 24 hours. Large transactions are defined as those that exceed $100,000 by IntoTheBlock, an on-chain analytics service.

Timeline of Shiba-inu

Shiba Inu's development team has announced a significant advancement in the SHIB ecosystem. With the introduction of the Shibarium Bridge, users will have a new way to interact with the ecosystem.

Going by market capitalization, Bitcoin is the largest, number one. Ethereum comes second, and then USDT comes third. It has been like this for a couple of years. XRP to Overtake USDT? But XRP has fought for the third spot with USDT a few times too.

Poloniex crypto exchange owned by founder of Tron blockchain crypto billionaire Justin Sun has tweeted that it is listing the Bad Idea AI token (BAD), which is one of the Shibarium partners.

Shiba Inu (SHIB) has been carving a distinctive path for itself. In spite of the prevailing lackluster performance on the broader cryptocurrency market, the token burn rate of Shiba Inu is surprisingly on the rise, signaling an interesting dynamic at play.

Shiba Inu (SHIB) has recently caught the attention of traders and investors as it forms an ascending triangle pattern on the price chart. This technical pattern is characterized by higher lows, converging with a horizontal resistance level.

Shiba Inu, the popular cryptocurrency token represented by the dog breed of the same name, recently flaunted a brand new gold check mark on its X account with 3.4 million followers, solidifying its status as an official business account via Twitter's Verified Organizations program.

With increasing uncertainty in the crypto market, a majority of major cryptocurrencies extended their correction phase in the last two weeks. As a result, the Shiba Inu price dropped from a high of $0.00000845 to a $0.00000758 swing low registering a loss of 10%.

According to Etherscan, over the past few hours, several cryptocurrency whales have transferred nearly 50 billion Shiba Inu canine-themed tokens. This included both withdrawals from crypto exchanges, transfers to exchanges and movements of SHIB between whales' wallet addresses.

Despite the recent volatility in the cryptocurrency market, the price of Shiba Inu (SHIB), the second most popular meme coin, has displayed a tepid performance over the past few weeks. While other altcoins have witnessed significant gains, Shiba Inu's value has remained relatively flat.

In a surprising and exhilarating twist of fate, the Shiba Inu token, SHIB, has experienced a significant surge in its value over the past 48 hours, leading to an astounding number of tokens reaching their break-even point. Recent market data provided by IntoTheBlock has brought to light that more than 20 trillion SHIB tokens have regained their "initial" value as a direct consequence of the latest price action.