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 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.

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.

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.

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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