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According to statistics, Shiba Inu whales have been more active in the previous 24 hours, with a 122 percent increase in major transactions.
Large transaction spikes are usually associated with increased activity by whales who are buying or selling, and these transactions amount to more than $100,000.
What is the reason for large transactions?
“BlueWhale0073,” who is now rated 312 on WhaleStats, recently purchased 147,846,134,326 SHIB for $1,562,733.
SHIB has also emerged as one of the top 10 tokens acquired by the top 5,000 ETH whales, with a total value of $627,497,979 SHIB.
The top 100 Shiba Inu holders, according to reports, saw an 8.28 percent increase in active addresses as crypto whales engaged with billions of Shiba Inu, resulting in a rise in the number of significant transactions.
New SHIB yield farming option
Bitrue has introduced a new yield farming option for Shiba Inu token holders, allowing them to profit from their holdings.
There are three Shiba Inu pool possibilities, according to the company’s blog post, each with its own lockup days, limitations, and APY.
Users may choose the one that best meets their needs and start earning rewards right away.
MEXC Global, a cryptocurrency exchange, just added SHIB/USDC to its platform, allowing customers to trade Shiba Inu against Circle’s USDC stablecoin.
Shiba Inu was trading at $0.00001073 at the time of publishing. Shiba Inu is down roughly 46 percent for the month due to the high volatility seen across the board in May.
Despite price decreases, Shiba Inu has gained approximately 32,000 new owners since the beginning of May, bringing the total number of owners to 1,171,385, according to WhaleStats statistics.
About SHIBA INU
Shiba Inu (SHIB) is a cryptocurrency built on Ethereum that seeks to be an Ethereum-based alternative to the popular meme coin Dogecoin (DOGE) Unlike Bitcoin, which is intended to be limited, SHIB is supposed to be plentiful, with a total quantity of one quadrillion coins.
The Shibaswap decentralized exchange and the NFT art incubator are both supported by the Shiba Inu Token ecosystem.
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With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
