Shiba Inu trades above $100K peak 47% over 24 hours, here’s what this could mean:

Tomiwabold Olajide

Shiba Inu trades over $100K are up 47% in the last 24 hours

Recent data from IntoTheBlock analyzes indicate that Shiba Inu trades over $100,000 are up 47% in the past 24 hours. The SHIB price is experiencing a dip alongside the rest of the market.

Large trades, often over $100,000, serve as an indication of the number of trades made by whales and institutional investors.

Image credit: IntoTheBlock

The volume of these large trades gives an idea of ​​the total amount that whales and institutional players transact on any given day.

Increases in the volume of large transactions indicate increased activity among major players, either buying or selling. During periods of collapse, whales and wealthy investors have been known to accumulate more and opt for dip-buying.

Top Shiba Inu Whales Increase Their Balance By 45.7% During A Price Drop

The cryptocurrency market succumbed to widespread selling pressure as Bitcoin and altcoins slowed down previous accumulated gains. Subsequently, the price of Shiba Inu slipped to lows of $0.000277 from highs of $0.000325 on Feb. 17.

Image credit: Whale Statistics

At the time of publication, SHIB was trading at $0.0000287. SHIB ranked 14th largest cryptocurrency by market cap, falling 7.78% in the past 24 hours, according to CoinMarketCap

According to data from WhaleStats’ analysis of the top 100 Shiba Inu whales, the average SHIB balance of this category of large keepers has increased by 45.69% in the past 24 hours. SHIB also remains the largest token holding company in the top 1,000 ETH portfolios.

The total number of SHIB holders continues to set new highs and currently remains at 1,180,598.

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