Shiba Inu (SHIB) is becoming one of the most popular altcoin projects among giant wallets, with whale transactions up 68%, according to data from IntoTheBlock.
SHIB transfer volume exceeds $100,000
Shiba Inu’s whale transactions have increased by nearly 68% in the last 24 hours, according to data provided by IntoTheBlock. Large transaction spikes are often linked to increased activity by institutional investors or buying or selling whales. According to IntoTheBlock, these transactions exceed $100,000 transferred.
Whales keep accumulating from the bottom
Shiba Inu (SHIB) saw strong demand to be bought by whales or large investors at the lows of $0.000013 during the May 9 market crash, followed by a recovery the next day. As later reported by WhaleStats, it led to the Shiba Inu becoming the eighth most purchased token by the top 500 ETH whales.
SHIB seems to have relinquished this position to Synthetix (SNX), The situation looks different for the first 100 ETH whales. The price of the Shiba Inu fell in a fresh market sell-off to hit the lows of $0.0000112 on May 11, so it looks like the biggest whales are looking for a comfortable entry point in the buying market.
However, the Shiba Inu remains the largest hodl for the first 1,000 ETH wallets as these whales collectively hold SHIB of $898,934,389.
Shiba Inu price analysis and news
At the time of writing, SHIB is still trading at $0.00001153, down 5% in the last 24 hours, according to data from CoinMarketCap. Despite the recent drop, the Shiba Inu continues to attract more investors. According to WhaleStats, the total number of SHIB holders is now 1,148,721, representing an increase of over 9,000 since the beginning of May. As noted in an official Shiba Inu blog post that we cite as
Kriptokoin.com, the main financial components of the Shiba Inu, Shibarium, SHI and SHIBFE, are currently in development and nearing completion. Shiba Inu lead developer Shytoshi Kusama says in his blog post:
I refuse to give any firm dates at this time, but I expect to see one or more of these technologies before late summer or very early fall.
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