Shiba Inu coin price is struggling due to drop in SHIB activity. Shiba Inu whale transactions has increased significantly.
Shiba Inu is a popular memecoin in the crypto market. SHIB’s market has weakened a bit since last week, but during this period there was a huge increase in SHIB whale transactions. Big investors (whale) are again active in the crypto market for Shiba Inu.
![Shiba Inu Coin: Whale Transactions Spike Despite Drop in SHIB Activity 1 crypto news](https://coinmozo.com/wp-content/uploads/2024/07/League-Spartan-16-1024x597.jpg)
Shiba Inu Coin: Whale Transactions Rise
According to on-chain data tracking website, IntoTheBlock, the volume of transactions made by whales in the SHIB meme coin has increased significantly. The total value of transactions on Sunday was $10.18 million (558.73 billion Shiba Inu) which increased to $37.57 million (2.14 trillion Shiba Inu) by Monday.
![Shiba Inu Coin: Whale Transactions Spike Despite Drop in SHIB Activity 2 crypto news](https://coinmozo.com/wp-content/uploads/2024/07/image-96-1024x424.png)
During this period the number of large transactions worth more than $100,000 more than doubled, from 30 to 75. This increased activity, however, is only from large investors, the Shiba Inu Coin price is struggling against market weakness.
![Shiba Inu Coin: Whale Transactions Spike Despite Drop in SHIB Activity 3 crypto news](https://coinmozo.com/wp-content/uploads/2024/07/Screenshot-2024-07-25-165351.png)
Additionally, the daily active addresses using Shiba Inu declined by 17.71% to 3,590 addresses. In terms of profit, 52% of SHIB owners have made a profit, 45% have made a loss, and 3% are tied.
![Shiba Inu Coin: Whale Transactions Spike Despite Drop in SHIB Activity 4 crypto news](https://coinmozo.com/wp-content/uploads/2024/07/image-98.png)
Conclusion
SHIB has seen a large number of transactions from big investors (whales). It shows the increasing interest of these investors, however, despite this, the overall number of people using Shiba Inu has decreased.
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