SHIB Large Transactions up Whopping 479%, What's Happening?

Dec 07,2022
SHIB Large Transactions up Whopping 479%, What's Happening?

According to the data information of IntoTheBlock, the large and medium-sized transactions in Shiba Inu network have increased by 479% in the past 24 hours. In just a few weeks, the total number of super large amount transactions (i.e. transactions above 100000 dollars) suddenly rose to the top, reaching 81 in the past 24 hours.

The peak period of bulk commodity trading is generally related to the improvement of dolphin or large and medium-sized holders' activities. These people either buy or sell. This may be related to the substantial movement of SHIB in the past 24 hours.

According to CoinMarketCap data, the transaction price of Shiba Inu after the launch was US $0.0000093, down 3.60% in the past 24 hours. However, it has risen 3.17% in the past seven days.

According to the return value of Shibburn's tweets, a total of 443328245 USD SHIB tokens were burned in 11 transactions in the past 24 hours. However, the combustion rate of SHIB decreased by 36.80% during the above period.

SHIB price behavior

On the daily curve, SHIB's bottom of US $0.0000081 realized on November 22 kept rising, forming a slender green candle stand. SHIB has been tamping down in an interval before the sharp rise here.

SHIB's MA50 broke through the important barrier every day and hit a peak of US $0.00001016 before the adjustment on December 5. SHIB then reversed the market and now trades in the range of $0.000009 to $0.00001016.

Breaking through US $0.000010 will not only make the price of SHIB no longer zero, but also further increase.

If the price drops from the current level, SHIB may remain at the level of $0.00009, where it has formed a foundation. If the sales situation changes, the risk of empty orders falling to $0.000081 is very likely.