Shiba Inu's Whale Transactions Spike 383% And New Account Creations Soar 15X On Nexo Listing Announcement
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) saw a 383% increase in whale transactions and a 15x rise in new account creations following its listing on Nexo and a network upgrade that enhanced Shibarium's speed. The upgrade and listing have contributed to SHIB's transition from a meme coin to a community empowerment symbol, with significant activity on its decentralized exchange, ShibaSwap. Despite these developments, SHIB's price dropped 2.3% in the last 24 hours.
May 07, 2024 | 7:51 pm
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NEGATIVE IMPACT
Shiba Inu experiences a significant increase in transaction volume and new account creations following its listing on Nexo and a network upgrade, yet its price has decreased by 2.3%.
The surge in whale transactions and new account creations indicates increased interest and activity in SHIB following its listing on Nexo and the Shibarium network upgrade. However, the price drop suggests that despite the positive developments, market sentiment may be affected by broader crypto market trends or profit-taking activities.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100