In an unexpected turn of events, large-scale transactions involving the Shiba Inu token SHIB increased by an astonishing 300% in the past 24 hours, reaching levels not seen since May.data from Into the Block It has been revealed that in the past day, the number of substantive transactions with SHIB has surged to an astonishing 20.2 trillion, marking an unprecedented surge.
The surge brought the value of these large deals to $178.38 million, the highest amount in eight months. Notably, only transactions over $100,000 are included in this index, with 57 recorded during this period.
The surge in SHIB trading volume has the cryptocurrency community abuzz with speculation about the potential reasons behind this unusual activity and its potential impact on SHIB’s price. According to Etherscan data, this spike appears to be related to a network of unknown wallets. This data indicates that the inflated trading volume may be due to a series of transactions involving these mysterious wallets.
In one particularly notable example, one wallet with the address “0xE50” made a massive withdrawal of 4.27 trillion SHIB, which is equivalent to $38.18 million. Meanwhile, another wallet identified as “0x23B7” saw the largest inflow of 2.27 trillion SHIB, worth $20.28 million.
The unprecedented surge in large-scale transactions in Shiba Inu tokens is raising questions about the intentions and motivations behind these significant moves. The impact of this unexpected activity on SHIB prices is not yet known, leaving traders and investors in uncharted territory to watch the situation unfold.
