Activity of large holders of Shiba Inu increased by 275%

During the last day the number of large transactions in the Shiba Inu system increased by 275%.

There were 75 transfers with the volume of more than $100 thousand, as reported by the analytical agency IntoTheBlock.

Experts expressed their opinion, noting that large transactions often play the role of a “proxy” for cryptocurrencies. The growth of this indicator often indicates a clear activity on the part of institutional investors. Analysts also noted: a massive surge in large transactions triggered a significant increase in Shiba Inu exchange quotations in early August 2022.

Notably, the BONE token, which is associated with the SHIB ecosystem, increased in value by 150% in a short period of time, while trading volumes increased by an impressive 447%. According to WhaleStats, BONE has become one of the most traded tokens among the top 100 addresses in the Ethereum blockchain.

Apparently, this circumstance had a positive effect on Shiba Inu itself. As of August 30, 2022, SHIB holds the 14th place in the capitalization rating with the figure of $6.69 billion, and the stock exchange price is located at $0.0000122.

Irina Dudak

News correspondent of the cryptocurrency and blockchain market.
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