SHIB Transactions Worth $1 Million Soar in Number as Shibarium Launches

Number of big Shiba Inu transactions has drastically increased as whales have increased their activity on SHIB, XRP and other tokens

Per data shared by Santiment, whales have become more active"as they attempt to capitalize on discount prices" of Shiba Inu and other digital currencies.

A detailed report on Shiba Inu shows that this leading meme cryptocurrency is now seeing a soaring number of transfers that are valued at $1 million or higher. During the first half of August, SHIB saw a massive rally, and now the price dropped sharply after Shytoshi Kusama's speech at the Blockchain Futurist Conference on Aug. 15 and the long-awaited release of Shibarium on mainnet.

After a 4.70% rise on Aug. 15, SHIB has since then plunged by 13.73%, now trading at $0.00000917. Overall, since Aug. 12, the coin's decline has constituted a whopping 18.04%.Whales have begun purchasing SHIB in massive amounts. So far, after all the rises and falls, the SHIB price is up 8.6% in August, according to Santiment data.

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