In the last 24 hours, a significant anomaly has surfaced in the on-chain movements of Shiba Inu (SHIB) tokens. Data from IntoTheBlock reveals a sharp uptick in the volume of large SHIB transactions. The number of major transfers, each valued at over $100,000, surged from 33 to 42, marking a notable increase of nine high-value transactions.
Increase in Transaction Numbers, Decrease in Volume
The increase in large transactions, typically valued over $100,000, resulted in an additional $900,000 circulating within this 24-hour window. Although a rise in transaction count often leads to higher overall volume, the SHIB network showed a contradictory trend.
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The total transaction volume dropped from 3.21 trillion SHIB to 1.11 trillion SHIB, a substantial decrease. This translates to a monetary drop from $43.52 million to $15.01 million, showing a sharp decline despite increased activity.
Average Transaction Size Decreases
The main reason behind this anomaly appears to be a decrease in the average size of each large transaction. Just a day earlier, the average large transaction value hovered around $1.32 million—about 13 times higher than the typical transaction.
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However, in the latest 24-hour period, this average dropped to $357,380. Despite this reduction, the average value remains 3.5 times higher than normal, indicating that Shiba Inu whales are still highly active.
Source: IntoTheBlock
Even with the decline in transaction volume, the heightened whale activity within the Shiba Inu ecosystem remains noteworthy. The 27.27% increase in large transactions reflects growing engagement among key investors, even though the total volume of tokens and monetary value has dropped by over 65%.
This suggests that, although the whales are conducting more trades, they are opting for smaller amounts per transaction, making the activity an unusual yet significant trend within the market.
