Shiba Inu (SHIB) whales have been more active in the past 24 hours, with a roughly 122 percent increase in large transactions, according to data from IntoTheBlock. Large transaction fluctuations are typically linked to increased activity of buying or selling whales, totaling more than $100,000.
Shiba Inu top 10
WhaleStats’ analysis of top 100 Shiba Inu owners shows that around a percentage of active addresses as crypto whales interact with billions of Shiba Inu, leading to an increase in the number of large transactions. It reflects an increase of 8.28. WhaleStats has detected large purchases of Shiba Inu in the last 24 hours. The cryptocurrency whale named “BlueWhale0073”, ranked 312th on WhaleStats, recently purchased 147,846,134,326 SHIBs worth $1,562,733. SHIB has also re-emerged as one of the top 10 tokens bought by top 5,000 ETH whales, currently holding $627,497,979 worth of SHIB.
Due to the general volatility experienced in May SHIB was down nearly 46 percent for the month. Despite the price drops, Shiba Inu has 1,171,385 current owners, according to WhaleStats data. SHIB has added nearly 32,000 owners since the beginning of May.
Developments in the SHIB ecosystem are coming one after another
As we have reported as Cryptokoin.com, after the increase in the Shiba Inu burn rate, there has been an increase in the number of SHIB token holders. Despite the increasing number of investors in SHIB, analysts think there will be a drop in price. SHIB burn rate is rising steadily. According to Shibburn, 203.4 million SHIB were burned overnight. 410.3 trillion SHIB have been burned so far, greatly reducing its circulating supply.
Investors in the SHIB community have found new ways to burn SHIB. ShibSuperStore has been accepted in the Amazon affiliate program and as such, every purchase will burn between 1 percent and 20 percent off the price on SHIB. More Ethereum (ETH) holders have joined the SHIB network over the past month. Analysts evaluated the SHIB price trend and predicted an increase in selling pressure. Analysts have spotted the descending triangle formation on the SHIB price chart. A sustained push from the bears could trigger a downtrend in the Shiba Inu. A famous crypto analyst, Antonio Smith, pointed to the $0.000015 level as resistance for SHIB price.
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