According to IntoTheBlock data, Shiba Inu whales, or large holders, got into the action as large transactions rose 154% in the last 24 hours. Large transaction surges are typically linked to increased activity from whales, who are either buying or selling and are often more than $100,000. Most Shiba Inu price moves have often coincided with a spike in large transactions.
According to crypto data tracker WhaleAlert in two lumps, 3,377,867,790,724 SHIB worth $37,375,684 and another 3,914,263,607,418 SHIB worth $42,932,556 were moved in between wallets. Shiba Inu saw a massive spike on Oct. 27 to reach highs of $0.0000118 but has since returned to trade near $0.0000106.
WhaleStats’ analysis of the top 100 Shiba Inu holders also reflected a 50% spike in active addresses as crypto whales interacted with billions of Shiba Inu, leading to an increase in the number of large transactions. The average SHIB balance in this category of whales rose slightly (2.45%) in the last 24 hours.
JUST IN: $SHIB@Shibtoken now on top 10 by trading volume among 2000 biggest #ETH whales in the last 24hrs 🐳
Shiba Inu also ranked among the top 10 assets in terms of trading volume among the 2,000 biggest ETH whales.
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Currently, the top 500 ETH whales are hodling $133,187,605 worth of SHIB. According to CoinMarketCap, Shiba Inu was trading at $0.0000106 at the time of publication, up 1.75% in the last hour and down 3.99% overall in the last 24 hours.
Shiba Inu gains “hodlers”
According to IntoTheBlock’s data on holder composition by time held, 40% of SHIB holders have “hodled” their tokens for more than a year, 57% have held within a year and 3% have held onto their tokens for less than a month.
As reported previously, the percentage of long-term holders, or “hodlers,” was given at 38% on Oct. 26. The current 40% implies an increase.
The crypto analyst has noted that the number of Dogecoin (DOGE) and the Shiba Inu investors buying Bitgert and Centcex is still growing bigger every day.
Shiba Inu (SHIB) price has increased by over 15% in a week as whales scoop up large amounts of the token. The transactions suggest that there might be a large group of whales stocking up on SHIB.
Whales are heading over to meme coin Shiba Inu as large holders have purchased over $35 million in a day. The transactions have taken place as the price has been increasing considerably.
SHIB is up over 11% in the last 24 hours, with a trading volume that exceeds $617 million.
One whale bought about 119.3 billion SHIB, just as the token was breaking its resistance level. Another one bought a whopping 3.36 trillion SHIB, worth about $33.6 million. Remarkably, these are both new whales and both transactions took place in a span of 24 hours.
Whale piling up SHIB: Etherscan
As a meme coin, Shiba Inu can be unpredictable when it comes to its price. However, there have been some major developments happening in the ecosystem. The market has also been improving generally, with all assets seeing high price bumps over the past few days.
Fellow meme coin DOGE also saw a huge increase in price, with the token increasing by over 21% in value. This bodes well for those who go after meme coins, though the price spike might not last long.
SHIB Burn Rate Also Increases Massively
The increase in SHIB price comes as the burn rate also spikes. The SHIB Burn tracker shows that the burn rate has risen by a massive 1,934% in the last 24 hours. This could be one of the reasons behind the price bump.
SHIB has gone up in price by over 15% in the last week. The token is now $0.00001161, having been at around $0.00001001 seven days ago. The token has now crossed the $6 billion mark for the first time in nearly three weeks.
Users Can Pay for Netflix and Amazon (Indirectly) Using SHIB
There have been reports that SHIB holders may soon be able to pay for Netflix and Amazon services indirectly using SHIB. The payment feature comes thanks to FCF Pay, which says that it will soon support SHIB in its prepaid debit cards.
Users are not paying for Netflix and Amazon directly. Rather, they are paying for the services through FCF Pay’s prepaid debit card and whatever crypto assets it supports.
What the payment services provider does is convert the crypto asset into fiat at the point of purchase. Another move forward in terms of adoption is the fact that real estate brands Pacaso and Condos.com will also accept SHIB via BitPay.
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Shiba Inu governance token, BONE, is seeing profound utility from whales as it ranks as one of the most used smart contracts among the top 500 ETH whales in the last 24 hours. Notably, BONE’s smart contract usage for this category of whales is up 100% in the last 24 hours.
JUST IN: $BONE@shibtoken one of the MOST USED smart contracts among top 500 #ETH whales in the last 24hrs🐳
At the time of publication, BONE’s price was up 3.72% at $0.93. While the reason for the spike in utility remains unknown, it seems whales are content to employ another Shiba Inu ecosystem token while SHIB sits in their wallets.
Whales continue to hodl Shiba Inu (SHIB), as seen in fewer active SHIB addresses in the last 24 hours per WhaleStats data. Shiba Inu (SHIB) also remains the biggest holding of the top 1,000 ETH whales, who are now hodling $124,278,892 worth of SHIB.
SHIB is recording more “hodlers,” or long-term holders, as the bear market evolves. Per IntoTheBlock’s holders’ composition by time held, 36% of SHIB holders have held onto their tokens for more than a year, 61% have held within a year, and 3% have held onto their tokens for less than a month. At the start of 2022, the number of hodlers was far lower.
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Shiba Inu can now be utilized on Amazon and Netflix
According to an announcement made by the crypto payment gateway FCF Pay, Shiba Inu (SHIB) can now be accepted for its Prepaid Crypto Debit Card.
SHIB thus becomes the first non-stablecoin accepted for the FCF Pay crypto cards, which can be used in several places, including Amazon and Netflix. The card could also be included in Google Pay to be used in-store.
As reported by U.Today, FCF Pay announced support for the Shiba Inu trifecta — SHIB, BONE and LEASH — as it added BONE and LEASH as payment options across its merchant network a while back.
The crypto analyst has noted that the number of Dogecoin (DOGE) and the Shiba Inu investors buying Bitgert and Centcex is still growing bigger every day.
