Shiba Inu has seen a rare on-chain activity, with significant shifts in large transactions. According to data from IntoTheBlock, the number of high-value transactions involving SHIB—those exceeding $100,000—rose from 33 to 42, marking an increase of nine transactions in the first 24 hours. This represents a rise of approximately $900,000 in transaction volume.
While it is common to see an increase in the number of large transactions leading to a higher transaction volume, this situation presents an unusual pattern. Despite the rise, the total volume of large transactions decreased.
Specifically, the volume fell from 3.21 trillion to 1.11 trillion SHIB within the same 24-hour window. In dollar terms, this decline represents a drop from $43.52 million to $15.01 million.
This data highlights an interesting shift in market behavior. While the number of transactions grew by 27.27%, the overall volume dropped by 65.4% in SHIB tokens and 65.5% in dollar value. This could be explained by a change in the average size of these large transactions.
The previous day saw an average transaction size of $1.32 million, significantly higher than usual. Today, however, the average transaction size has fallen to $357,380. Although lower, this new figure is still higher than the typical average transaction size.
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Even though the total volume of large transactions for the token has dropped, the increased number of transactions suggests continued activity among SHIB “whales”—investors holding large amounts of the cryptocurrency. This activity level is noteworthy and may indicate ongoing interest in the SHIB token, despite the transaction size and volume fluctuations.
The unusual occurrence raises questions about the motivations behind this activity. Large holders may be redistributing their assets in smaller chunks or preparing for upcoming market movements. Regardless of the reason, this spike in activity, paired with the drop in volume, is unusual and noteworthy.
Conclusion
The cryptocurrency market often witnesses fluctuations, but this particular anomaly in the asset’s transaction patterns signals something unique. While the overall transaction size has decreased, the continued interest from large investors suggests that the token remains relevant in the market.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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