Shiba

Overnight

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a stunning turn of events, the&nbsp;<a href="https://u.today/shiba-inu-shib-three-things-to-look-out-for-this-week" rel="noopener noreferrer nofollow">Shiba Inu token (SHIB)</a> has witnessed remarkable on-chain dynamics, marked by an unprecedented surge in large transactions. Blockchain analytics platform&nbsp;<a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a> has revealed a notable spike in transactions valued at $100,000 or more.
Over the past 24 hours, whale transactions involving&nbsp;<a href="https://u.today/44-trillion-shib-shoveled-by-anon-whales-as-price-begins-to-increase" rel="noopener noreferrer nofollow">SHIB</a> have experienced explosive growth, skyrocketing by $33.78 million, a staggering surge of 420%. This sudden uptick has led to a jaw-dropping 4.11 trillion SHIB tokens being exchanged, catapulting the total daily transactions to an extraordinary 5.44 trillion. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="d97f8275-e5a5-435a-a30b-cc1bda158f51" src="https://u.today/sites/default/files/inline-images/shshshshshsh.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" rel="noopener noreferrer nofollow">IntoTheBlock</a>
The primary catalyst behind this astounding jump on-chain was the transfer of a whopping 4.4 trillion tokens from one anonymous wallet to another, amounting to $35.82 million in SHIB value.&nbsp;
As reported by U.Today, this transaction took place on a newly created wallet, with only two transfers occurring approximately 12 hours ago.
This flurry of massive transactions of the&nbsp;<a href="https://u.today/shib-price-analysis-for-november-5" rel="noopener noreferrer nofollow">Shiba Inu</a> token coincided with a sharp increase in SHIB's price. Currently trading at 0.00000815, SHIB's price hints at an imminent breakout after consolidating over the past 10 days. This marks the highest token price since the end of August when the Shibarium project was launched, underscoring the significance of this recent surge. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="65e84e85-0926-4f07-bfb8-f60d10de4f2f" src="https://u.today/sites/default/files/inline-images/SHIB_7D_graph_coinmarketcap%20%284%29_0.jpeg">SHIB to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
As the SHIB community watches in awe, the token continues to make waves, leaving traders and enthusiasts eagerly anticipating what the future holds for this popular digital asset.

Large Shiba Inu (SHIB) Transactions Witness Jaw-Dropping 420% Surge Overnight

U_Today

Other articles published on Nov 6, 2023

NBX 2023 Berlin: The Forefront of Web3 Innovation in Europe Returns

Hong Kong Government Is Looking To launch ETF

FCA & Bank of England To Regulate UK Stablecoins Amid Rising Risks

‘Bitcoin Jesus’ Sues Matrixport Over $8 Million Crypto Hold

Bitfinex users suffer slight phishing attacks after employee hack

FTX Seeks Approval to Sell Trust Assets Valued at $744 Million!

Join our free newsletter for daily crypto updates!