Shiba Inu (SHIB) sees 83% rise in trading volumes as whales accumulate on dip SHIB ShibArmy SHIBCommunity ShibArmy $SHIB
has reported that SHIB also saw a massive spike in trading volumes, ranking among the top 10 assets by trading volume among the 100 biggest ETH whales.Also, the number of large transactions on the Shiba Inu network is up 141% in the last 24 hours, per IntoTheBlock data. Large transactions as defined refer to those exceeding $100,000, and a spike in this might indicate that whales are buying or selling.SHIB rallied alongside rival cryptocurrency Dogecoin on Nov. 27, gaining nearly 5%.
The trend of"hodling" and accumulation can be seen as the top 100 ETH whales now hold 7.4 trillion SHIB in their portfolio. Likewise, the current amount staked on ShibaSwap represents 27 trillion SHIB, or 27,088,201,445,825. The percentage of SHIB hodlers or long-term holders has risen to 54% in recent weeks.
Despite the current price declines, the SHIB burn rate is up 4,497% in the last 24 hours, with 50,567,740 SHIB burned.
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