Shiba Inu (SHIB) has seen a 500% surge in on-chain transaction volume in just two days, sparking speculation about the token’s future trajectory
The Shiba Inu (SHIB) ecosystem has undergone a massive shift, with an unprecedented surge in on-chain activity over the past 48 hours, with whale transactions involving the token soaring by a staggering 498%.
During this whirlwind period, whale transactions injected a whopping $40.93 million into SHIB, exchanging 5.1 trillion tokens. This surge brought the total daily trading volume to a staggering 6.38 trillion tokens, equivalent to a staggering $51.71 million.
The surge in on-chain activity coincides with a significant price rebound for SHIB. After suffering a brief setback of 8.2% on Tuesday, it rebounded impressively, rising 6% over the next two days. This recovery has brought SHIB’s value back above the critical threshold of $0.000008 per token, reigniting optimism in the Shiba Inu community.
Investors and enthusiasts are now closely watching whether the rebound in on-chain transactions is a precursor to continued positive momentum for SHIB. The main question looming is whether the token’s price recovery will be sustained and whether it will be able to fully recover from the losses suffered on Tuesday. The surge in whale transactions indicates a renewed interest in SHIB, sparking speculation about potential future developments and positive market sentiment.
The next few days will be crucial in determining whether Shiba Inu’s new momentum is a temporary blip or the start of a sustained bullish trend.
