- Shiba Inu sees large transaction volume with 2.21 trillion SHIB moved.
- SHIB price spikes offer tempting profit opportunities for thousands of holders.
- 60k Shiba Inu holders flipped from unprofitable to profitable.
Shiba Inu, the popular cryptocurrency, made a big splash in the market as whales moved an enormous 2.21 trillion SHIB tokens, marking a seven-day high in large transaction volumes. This movement comes as SHIB eyes a bullish advance, with the price currently rising by 3.66%, resulting in its largest daily gain in the last seven days.
This wave of large transactions, classified by IntoTheBlock as any transfers over $100,000, has surged by 43.72% in the last 24 hours. The outcome of these colossal transactions is felt across the market, as SHIB registers its most significant price advance in recent times.
Adding to the market stir, a significant amount of SHIB tokens were burned in the last 24 hours, totaling 50,258,924 SHIB tokens in four transactions. This activity has led to a remarkable 4% intraday increase and an impressive 8% surge over the past three days.
This surge has flipped nearly 60,000 Shiba Inu holders from unprofitable to profitable, offering them a golden opportunity to earn. These newly profitable addresses hold a staggering 27.3 trillion SHIB, accounting for 38% of the total profitable SHIB addresses and an impressive 45% of the tokens currently making profits.
Despite the potential threat of this sellable volume to the growth of the Shiba Inu token, the future of SHIB remains promising. With the continued interest from large players, the burning of tokens, and an engaged community of holders, SHIB is well-positioned for sustained growth and increased profitability.
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Antonella is a cryptocurrency and news writer who travels the world, finding inspiration in diverse cultures. She cherishes moments sitting on the beach, watching sunsets. Through her writing, Antonella explores the dynamic realm of cryptocurrency and delivers insightful news. Her work encapsulates both the excitement of finance and the serenity of nature’s beauty.
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- Source: https://cryptonewsland.com/shib-starts-bullish-trend-2-21-trillion-tokens-moved-as-prices-skyrocket/
