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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Shiba Inu Records 2,500% Spike In Whale Activity, SHIB Price About To Skyrocket?

Scott Matherson
Scott Matherson
1 year ago
3 mins read
shiba inu shib shibusdt

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The Shiba Inu ecosystem is buzzing with renewed excitement as whale activities are rising and daily transactions are surging to new levels. Amid SHIB’s price stagnation over the past few years, these developments could propel the cryptocurrency’s value to new highs. 

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Shiba Inu Whale Activity On The Rise

Popular doggy-themed cryptocurrency SHIB has recently experienced a massive rise in whale inflows. According to data released by crypto market intelligence platform IntoTheBlock, Shiba Inu experienced a surge of 2,595% in large holder inflows.

The cryptocurrency witnessed a substantial surge between Wednesday, February 7, and Friday, February 9, resulting in an impressive spike in inflows from 275.2 billion SHIB to a staggering 2.31 trillion SHIB.

Additionally, around Thursday, February 8, and February 9, the Shiba Inu cryptocurrency witnessed another surge, as large holder inflows rose from 1.4 trillion SHIB to 2.31 trillion SHIB. 

These large gains have marked a notable shift in investor sentiment regarding SHIB, effectively capturing the attention of the broader cryptocurrency market. Lately, there has been an evident increase in whale activities within the Shiba Inu ecosystem. This has led market watchers and investors to closely monitor the token, seeking insights into factors driving these significant whale movements. 

Shiba Inu’s marketing lead and influencer, Lucie, has also projected a bullish outlook for the company. According to her post on X (formerly Twitter), Shiba Inu could be one of the major altcoins taking advantage of the 2024 bull run.

She explained that when the bull market phase starts and capital pours into prominent cryptocurrencies like Bitcoin and other major altcoins, the momentum will likely extend into Shibarium, potentially triggering a price surge for SHIB. 

SHIB Sets Course For Potential Price Surge

In addition to the rise in whale activities, SHIB has experienced a notable increase in daily transactions and new active users. Data from ShibariumScan reveals a surge in daily transactions from 526,090 on February 9 to 2.04 million on February 11. At the time of writing, daily transactions have dropped slightly, standing at 1.88 million. 

The surge in large investor purchases and daily transactions could indicate a possible spike in the price of Shiba Inu soon. Usually, a rise in transactional volume signifies an increase in investor interest and adoption of a cryptocurrency, which further contributes to increased demand and potentially impacts market sentiment. 

According to CoinMarketCap, the price of SHIB is currently at $0.0000095, reflecting an impressive 2.76% gain in the past 24 hours. Crypto previously struggled to keep up with the pace of bullish trends in the crypto market.

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However, with recent positive developments fueling market sentiment, Shiba Inu may be poised to experience an exponential surge if it can break through key limitations and price resistance. 

Shiba Inu SHIB SHIBUSDT
SHIB’s price experience some gains recently on the daily chart. Source: SHIBUSDT on Tradingview

Cover image from Dall-E, chart from Tradingview

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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