Shiba Inu (SHIB), the dog-themed meme coin, has seen a massive surge in transactions over the past 24 hours. Over 2.8 trillion SHIB tokens have been traded on leading cryptocurrency exchange, Binance. Available data shows that 2,816,572,700,000 SHIB tokens have entered active trading on Binance.
SHIB Whale Activity and Its Market Impact
Analysts have attributed the bulk of these transactions to whale traders. Although the exact factors driving these whales’ activities have not been revealed, the move remains of great importance to the ecosystem.
The trading of such an astonishing volume of SHIB tokens on Binance could point to one of several possible scenarios. First, SHIB traders have opened specific positions on Binance in line with the general market trend. It is worth noting that one of the reasons why whales and individual traders move their tokens to crypto exchanges is to sell. However, they may also decide to trade or bet. Meanwhile, the surge in SHIB interest on Binance could help drive price action as SHIB has struggled to break critical resistance levels over the past 30 days.
#لا_إله_إلا_أنت_سبحانك_اني_كنت_من_الظالمين
