Shiba Inu (SHIB) Whale Transactions Are Surging

Shiba Inu (SHIB) remained one of the most popular coins, trending in the last few weeks. The meme token has gained significant value in 2021 due to a sharp rise in its retail interest. As a result, SHIB’s whale transactions have reached a record high.

According to Santiment, one of the leading crypto Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term firms, SHIB whales are moving the digital asset in large amounts. The company added that Shiba Inu’s whale transfers play an important role in its price action.

“Shiba Inu is back up to $0.00002885 while the spotlight is back on Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and its close-in on its new all-time high. But, keep an eye on SHIB's whale transactions exceeding $100k. When these transactions come in bunches, price rises generally follow,” Santiment highlighted on Twitter.

Last month, a leading SHIB whale account purchased nearly $43 million worth of SHIB coins. Following the purchase, the price of the meme coin jumped significantly. On 6 October 2021, SHIB’s price jumped by more than 60% within a few hours.

Shiba Inu’s Market Cap

Shiba Inu crossed the market cap of $11 billion on Wednesday. SHIB is the 19th most valuable cryptocurrency in the world. In terms of market cap, SHIB is just behind Bitcoin Cash. People consider SHIB as the biggest competitor of Dogecoin (DOGE). While the difference between the market cap of SHIB and DOGE is still significant, Shiba Inu’s recent growth indicates that the meme coin has the potential to overtake Dogecoin as the world’s most valuable social token.

Despite a small correction of 2% in the last seven days, SHIB is still more valuable than several digital currencies including Algorand (ALGO), Polygon (MATIC), Stellar (XLM) and Cosmos (ATOM). The cryptocurrency is now targeting the market cap of Litecoin (LTC), Chainlink (LINK), Avalanche (AVAX) and Terra (LUNA).

The difference between the market cap of DOGE and SHIB currently stands at around $20 billion.