Shiba Inu Soars as Whale Activity Spikes – Top Gainer!
• Shiba Inu (SHIB) became the top gainer among the leading 100 cryptocurrencies and its price got close to the $0.00001 mark.
• Whale activities and transactions have been on the rise over the past week, along with a sudden spike in SHIB’s 24-hour trading volume.
• The developers are hinting at launching the Shibarium ecosystem, potentially driving more bullish momentum for the meme coin.
Shiba Inu Emerges as Top Gainer
The second-largest meme coin, Shiba Inu (SHIB), became the top gainer among the leading 100 cryptocurrencies. Its price got close to the $0.00001 mark, and Santiment data shows this surge is due to high whale activity and transactions over the past week.
Surge in Trading Volume
Shiba Inu’s 24-hour trading volume also exploded by 53% over the past day, reaching $380 million. Whale transactions consisting of at least $100,000 worth of SHIB witnessed a sudden spike from 46 on Aug 4 to 152 on Aug 5, while whale transactions consisting of at least $1 million worth of SHIB rose from one on Aug 6 to nine transfers on Aug 7.
Bullish Momentum Potentially Driven by Launch of Shibarium Ecosystem
Shiba Inu’s social volume has also witnessed many highs and lows over the past month as it broke through its 3-month high of 0.00001 USD per token on August 5th. This potential bull momentum comes while developers hint at launching their new Shibarium ecosystem soon.
The meme coin is currently up 9.3% in 24 hours and trading at 0.0000098 USD per token with a market capitalization of 5.79 billion USD, regaining its rank as 14th largest cryptocurrency by market cap size .
Shiba Inu has seen rapid growth due to high whale activity and transactions in recent weeks, which could further escalate if their upcoming Shibarium ecosystem launch proceeds successfully according to plan