Shiba Inu Whales Abruptly Come to Life As SHIB Rallies 34% in Just One Day: Analytics Firm Santiment

Crypto analytics firm Santiment has tracked massive purchases of the popular meme coin Shiba Inu (SHIB) by some of the wealthiest wallets in cryptocurrency.

According to a new post, data aggregators pointed out The whale awoke suddenly on August 14th and executed the largest number of transactions over $100,000 in four months.

Shiba Inu has been on the move this weekend, up +34% over the past 24 hours, while cryptocurrencies are pretty flat.

Not coincidentally, whales are very active on SHIB, with 433 transactions of $100,000 or more, the most in four months.

The Shiba Inu recently gained 50% when it rose from a low of $0.000012 on August 10th to a peak of $0.000018 on August 14th.

The recent rise has pushed SHIB to become the 12th slot of the largest digital assets by market capitalization, with the dog-themed token now backed by layer 1 smart contract platform Avalanche (AVAX) and layer 2 scaling solution Polygon (MATIC). outperforms both.

Crypto Intelligence Firm IntoTheBlock Offers More Details data For SHIB, we note that 60% of holders are currently under water and only 35% are sitting in unrealized gains. An additional 5% is equal to the investment.

Looking at the large Shiba Inu holder concentration, whales and investors who own at least 0.1% of the altcoin supply dominate, holding 81% of the SHIB in circulation.

IntoTheBlock also found that 68% of Shiba Inu owners have owned their tokens for 1-12 months, 28% have owned their tokens for more than a year, and only 4% have owned their tokens for less than a month. clarifying.

Despite SHIB’s recent spike in price charts, the altcoin remains down more than 80% from its late October 2021 high of $0.00008616.

As of this writing, the Shiba Inu has fallen 10.22% and is trading at $0.000016.

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