The Shiba Inu (SHIB) ecosystem has seen a significant increase in technical data as its whale transactions have increased by over 450%. Additionally, the SHIB network has also witnessed notable activity. Specifically, daily activity has increased by over 25% in the past 24 hours.
According to data from IntoTheBlock, large trades in the past day have increased by 454.16%. This figure has then overshadowed the $112 million mark, with 34 trades worth over $100,000 taking place during that period. Conversely, price bulls are working hard to remove the zeros and reclaim the $0.00001 mark.
Shiba Inu Sees Explosive Activity Alongside Increased Whale Trading
Within the entire digital asset space, meme coins are increasingly becoming one of the most popular types of currency in the industry. Indeed, the market has tried everything to increase utility and reduce volatility. Amidst those efforts, Shiba Inu has emerged as one of the most sought-after objects by investors.
While the price hasn’t significantly increased throughout the year, that may change. Specifically, Shiba Inu (SHIB) has seen its whale transactions rise by over 450%. These large trades are any transactions that have a value of over $100,000. In the past day, data shows that 34 such trades have occurred.
The volume increased from 2.18 trillion on Wednesday to over 11.7 trillion the next day. Furthermore, that is the highest volume in a week. However, that’s not the only figure in green for the meme coin. The asset has also seen daily activity increase by over 25%.
However, the cryptocurrency is trading at $0.0000095 and has decreased by over 1% in the past 24 hours, according to CoinMarketCap. Furthermore, the asset has struggled in the prolonged effort to remove another zero from its price. However, hope remains as monitoring more in-depth figures.
Specifically, the time held for traded coins has increased in the past week. Specifically, that figure has increased by over 652% in the past seven days. This could indicate that many SHIB investors are optimistic about the long-term potential of the digital asset. Then, time may provide the best path for it to continue its price increase throughout the year.
