In what has been quite a surprising development, Shiba Inu has seen large SHIB transactions surge amid its continued price rise. Indeed, the asset has noted that transactions worth more than $100,000 have quadrupled, according to data compiled by IntoTheBlock.
Since the game-changing court ruling regarding XRP, SHIB has been a surprising beneficiary. Moreover, these large-scale transactions have increased by a notable $56.78 million over the last 24 hours alone. A development that has led total Shiba Inu transactions over the past day to surpass $9 trillion.
Also Read: US Judge Rules Ripple XRP is Not a Security
Shiba Inu Large Trasnations Increase Fourfold in 24 Hours
Without the immensely volatile meme coin market, few assets have developed the kind of community that Shiba Inu has. Moreover, over the last 24 hours, it has seen its price grow considerably. Subsequently, that has driven one important aspect of its price action upward.
Specifically, Shiba Inu has seen large-scale SHIB transactions surge fourfold as its price has continued to rise over the last 24 hours. Indeed, data has shown a remarkable increase of 390%, contributing an incredible 6.97 trillion SHIB tokens. The surge in the data likely arrived as a result of the asset’s impressive price movement just a day ago.
Specifically, Shiba Inu has seen large-scale SHIB transactions surge fourfold as its price has continued to rise over the last 24 hours. Indeed, data has shown a remarkable increase of 390%, contributing an incredible 6.97 trillion SHIB tokens. The surge in the data likely arrived as a result of the asset’s impressive price movement just a day ago.
The overall market saw an impressive surge that was felt by Shiba Inu. Moreover, the overall increase led to a SHIB rally of 10%, which carried the asset to its highest value in almost a month. Additionally, the performance was enough to catapult the asset to the $0.000008 price point. A notable level for the asset to surpass.
Also Read: Could Shiba Inu (SHIB) Delete a Zero as XRP Moves Towards $1?
The meme coin is likely to coincide with the overall market movement in the coming days. As the industry is still elated with the US court ruling regarding XRP, it will be interesting to observe how the price of various digital assets continues to maneuver.
Currently, Shiba Inu is trading at $0.00000801, according to CoinMarketCap. Moreover, that price is notably up 6.50% over the last 24 hours. Seeing how it continues to perform in the coming days will be interesting. Moreover, it should set a trajectory for what to expect from its short-term price performance.