Shiba Inu Large Transactions Spike by 122%, Due to Surge in Whales’ Interest in SHIB

Shiba Inu whales have been more active in the last 24 hours, as stated by IntoTheBlock data, with a 122% spike in large transactions. Large transaction surges are typically linked to increased activity from whales who are either buying or selling and these total more than $100,000.

Read Also: Cardano Has Tendency To Become Scarce Asset Like Bitcoin: Community

WhaleStats‘ analysis of the top 100 Shiba Inu holders reflects an 8.28% spike in active addresses as crypto whales interacted with billions of Shiba Inu, leading to an increase in the number of large transactions. WhaleStats has detected large Shiba Inu purchases in the last 24 hours.

“BlueWhale0073,” ranked 312th on WhaleStats, recently bought 147,846,134,326 SHIB valued at $1,562,733.

SHIB also resurfaced as one of the top 10 tokens purchased by the top 5,000 ETH whales, who now own $627,497,979 worth of SHIB.

Bitrue launches new yield farming option for SHIB

Bitrue has released a new yield farming option for Shiba Inu, permitting holders to take profit on their tokens. As stated in its blog post, there are three Shiba Inu pool options, each with its lockup days, caps, and APY. Users can pick the one that best suits their needs and begin earning incentives.

In the past week, cryptocurrency exchange MEXC internationally announced the listing of SHIB/USDC, thus allowing users to trade Shiba Inu against Circle’s USDC stablecoin.

Read Also: Cardano Founder, Charles Hoskinson: Vasil Hard Fork on Track, Testnet Set to Release by End of May

At the Writer’s time,  Shiba Inu was trading down at $0.00001073. Due to the volatility experienced across the board in May, Shiba Inu remains down nearly 46% for the month. 

Despite the price reduction, Shiba Inu has added almost 32,000 holders since the start of May as the current holder count stands at 1,171,385, per WhaleStats data.