The latest data from IntoTheBlock analytics, which offers individual investors the largest and most advanced cryptoasset metrics in the market, shows that over $100,000 Shiba Inu (SHIB) transactions have increased 47% in the last 24 hours. However, SHIB price is on the decline with the majority of the market. Continue reading Kirptokoin.com for details.
Shiba Inu attracts whales and institutional investors
Large transactions in cryptocurrencies often exceeding $100,000 are considered an indicator for the number of transactions made by whales and institutional investors. The volume of these large transactions gives an idea of the total amount traded by whales and institutional players on a given day.
Increases in the volume of large trades indicate increased activity among major players buying or selling. According to experts, during times of crypto crashes, whales and wealthy investors prefer to save more and bottom-buy. Data shows Shiba Inu (SHIB)’s largest whales increased their balances by 45.7% amid the price drop.
The cryptocurrency market today succumbed to widespread selling pressure as leading crypto Bitcoin (BTC) and altcoins eroded previous retained earnings. The price of the Shiba Inu also fell to $0.000277 from $0.0000325 on February 17, following the overall market.
At the time of writing, SHIB was trading at $0.00002818. According to CoinMarketCap, SHIB is the 14th largest cryptocurrency by market cap, down 5.55% in the last 24 hours. Moreover, the meme coin is trading at a discount of about 68% from its all-time high of $0.00008845, which it saw 4 months ago.
According to data from WhaleStats’ analysis of the top 100 Shiba Inu whales, the average SHIB balance held by this large whale category has increased by 45.69% in the last 24 hours. SHIB also remains the largest token held among the top 1,000 Ethereum (ETH) wallets. The total number of SHIB holders continues to set new highs and currently has 1,180,598 holders.
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