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Shiba Inu Transactions Up 122%: Whales Ready for a Bull Run

According to statistics, Shiba Inu whales have been more active over the past 24 hours, with a 122 percent increase in larger transactions.

Large transaction spikes are usually associated with increased activity by whales buying or selling, and these transactions total more than $100,000.

What is the reason for large transactions?

“BlueWhale0073”, now rated 312 on WhaleStats, recently purchased 147,846,134,326 SHIB for $1,562,733.

SHIB has also emerged as one of the top 10 tokens acquired by the top 5,000 ETH whales with a total value of $627,497,979.

The top 100 Shiba Inu holders reportedly saw an 8.28 percent increase in active addresses as cryptowhales dealt with billions of Shiba Inu, leading to an increase in the number of significant transactions.

New SHIB yield farming option

Bitrue has introduced a new yield farming option for Shiba Inu token holders, allowing them to profit from their holdings.

According to the company’s blog post, there are three Shiba Inu pool opportunities, each with their own lockup days, restrictions, and APY.

Users can choose the one that best suits their needs and start earning rewards right away.

MEXC Global, a cryptocurrency exchange, just added SHIB/USDC to its platform, allowing clients to trade Shiba Inu against Circle’s USDC stablecoin.

Shiba Inu was trading at $0.00001073 at the time of publication. Shiba Inu is down about 46 percent this month due to the high volatility seen across the board in May.

Despite price drops, the Shiba Inu has gained about 32,000 new owners since early May, bringing the total number of owners to 1,171,385, according to WhaleStats statistics.

About SHIBA INU

Shiba Inu (SHIB) is an Ethereum-based cryptocurrency that aims to be an Ethereum-based alternative to the popular meme coin Dogecoin (DOGE). Unlike Bitcoin, which is said to be limited, SHIB is said to be plentiful, with a total supply of one quadrillion coins.

The decentralized exchange Shibaswap and the NFT arts incubator are both powered by the Shiba Inu token ecosystem.

ALSO READ: Paul Tudor Jones Reveals 10 Undervalued Stocks to Buy Now Pt.1

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