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In a surprising turn of events, the Shiba Inu token (SHIB) has experienced an extraordinary surge in on-chain dynamics, with whale transactions witnessing an unprecedented spike in value. According to blockchain analytics platform IntoTheBlock, large transactions involving SHIB, valued at $100,000 or more, have skyrocketed, reaching a staggering surge of 1,314% within the last 24 hours.
The surge in whale transactions translates to a remarkable $64 million increase in just one day, reflecting an explosive growth from $4 million just a day before.
The primary catalyst behind this remarkable surge was the transfer of an astounding 4.23 trillion tokens from an anonymous wallet to Bitvavo, totaling $44.46 million worth of SHIB.
This significant transaction unfolded from a recently created wallet approximately 14 hours ago, adding a layer of mystery to the already captivating narrative.
SHIB price goes green
*Simultaneously, the Shiba Inu token experienced a surge in price, currently trading at 0.00001071. This suggests a potential breakout, marking the highest token price range since the conclusion of the Shibarium project launch at the end of August. This newfound surge in both whale activity and token price hints at a compelling and possibly transformative phase for SHIB.
As the SHIB enthusiasts watch these developments with a mix of excitement and anticipation, traders are left pondering the implications and future trajectory of this popular digital asset.
With 5.52 trillion SHIB tokens exchanged in this whirlwind of on-chain activity, the Shiba Inu token is undoubtedly making waves, maintaining its own bracket in the crypto market.