Shiba Inu’s Whale Transactions Surge 888% as SHIB Price Gains 15% to Outperform Top 20 Cryptos

Shiba Inu (SHIB) performance in terms of price has been outstanding over the last 24 hours. The data from CoinMarketCap reveals that the dog-themed token is currently outperforming other top 20 cryptocurrencies in the market, including Bitcoin (BTC) and Ethereum (ETH), with over 15% price increase based on 24 hours estimation.

Source: CoinMarketCap

The data from IntoTheBlock is also looking positive for Shiba Inu (SHIB). It shows that SHIB whales or large holders have become very active as large transactions surged 888% in the last 24 hours.

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Large transactions according to IntoTheBlock, are those more than $100,000. And they usually increase whenever large holders become highly active.

WhaleStats Data Shows Similar Increase

Data from WhaleStats, the tracker of the biggest 5000 Ethereum whales, also reflected the surge in SHIB whales’ activity. The analysis of the top 100 Shiba Inu holders reflected a 16.67% rise in active addresses as crypto whales interacted with billions of SHIB tokens, which lead to an increase in the number of large transactions.

Shiba Inu Community Inspired By Shytoshi Kusama

Although the recent price surge can’t be attributed to any major event, the reassuring remarks from Shiba Inu lead developer Shytoshi Kusama served as an inspiration for the Shiba Inu community during the market downturn.

Reassuring the community in a thread of tweet a few days ago, Shytoshi Kusama stated that “things are moving quite well on all fronts and over the next few weeks you will begin to see the things we’ve been working on come to fruition at, what looks to be when Shib (and the world) needs it most.”

Shiba Army Burned 94 Million SHIB Tokens in 24 Hours

According to Shibburn on Twitter, over 94,260,759 SHIB tokens have been burned in 16 transactions made over the last 24 hours. The shibburn website gives a total of 95,099,489 SHIB burned in the last 24 hours.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.