- Over 355 billion SHIB tokens were moved in between unidentified wallets.
- SHIB drops in cost for the very first time in days.
Shiba Inu [SHIB] experienced a substantial rise in activity recently, resulting in its trading volume reaching the greatest level in months. An analysis of this rise exposes the trading activity’s instructions.
Billions of Shiba Inu moved
Etherscan analysis revealed a considerable transfer of Shiba Inu tokens, including the motion of over 355.6 billion SHIB tokens to an unknown wallet address.
This deal did not go undetected, as it led to a visible response in volume. According to Santiment’s volume metric, SHIB experienced a considerable rise, with the volume reviewing $88.5 million on 6th December.
Taking a look at the volume pattern over the previous couple of months revealed that this represented the greatest SHIB volume in months. The chart revealed a resemblance to a volume boost observed around August.
The current upgrade revealed that the volume was around $439 million. CoinMarketCap information revealed a fall of over 40% in volume within the last 24 hours.
Exchange circulation reveals a high Shiba Inu outflow
Examining Shiba Inu Exchange Netflow on CryptoQuant offered insights into the current token transfer’s instructions.
