'Dogecoin Killer' Shiba Inu Dips 13% But Active Accounts, Whale Transactions Surge Over 100% Each
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) experienced a 13.3% decrease in value despite a significant increase in active accounts and whale transactions. Whale transactions over $100,000 surged to 2,222, and active accounts more than doubled to 1,896. Trading volumes for SHIB reached $14.2 billion, surpassing other major cryptocurrencies. The Shiba Inu community anticipates exciting announcements, including 'Shiba Names' for holders. Social activity for SHIB remains high, with a community member advising against panic selling and encouraging buying the dip.
March 06, 2024 | 12:02 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Shiba Inu (SHIB) saw a 13.3% price drop but experienced a surge in active accounts and whale transactions, indicating strong trading activity and potential for future growth.
The price drop of 13.3% in Shiba Inu contrasts with the significant increase in active accounts and whale transactions, suggesting a mixed short-term impact. The high trading volume and anticipation of exciting announcements could support a rebound, but the immediate price drop indicates market volatility. The advice against panic selling and encouragement to buy the dip reflects community confidence in SHIB's potential recovery.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90