As stated by IntoTheBlock data, Shiba Inu’s large transactions have increased by nearly 68% in the last 24 hours. Large transaction spikes are usually linked with rising activity from institutional players,

Shiba Inu developer Shytoshi Kusama has taken to Twitter to share his expectations for the coming weeks and months. In his words, he states,

In the first 24 hours after its launch, the official SHIB Twitter handle had reported a whopping eight billion tokens being burned as SHIB owners burned their tokens en masse.

Shiba Inu (SHIB), the second-largest and hottest meme token in the market, has been having needed attention lately.