Shiba Inu (SHIB) price total in one month when whales enter more than 30%

TL; DR

Shiba Inu (SHIB) has seen a significant increase in its value recently compared to other cryptocurrencies such as Dogecoin. Various factors and developments in the Shiba Inu project including the L2 blockchain solution Shibarium are influencing the current market trend. The article discusses the impact of actions taken by large SHIB investors on cryptocurrency market volatility and investor sentiment.

Shiba Inu (SHIB) performs better than Dogecoin (SHIB).

Although not among the top performers today (December 28, 2007), the popular meme coin – Shiba Inu – has seen a significant price increase in recent times. Every month more than 30% (according to CoinGecko data) exceeds the profit recorded by Dogecoin (19%).

The growth of SHIB can be attributed to several developments such as the asset burning method and the development of Layer-2 blockchain solution Shibarium.

The meme coin project saw over 17 billion tokens burned last week. In addition, the extent of the fire for December 27 It exploded More than 136 million properties were destroyed at a rate of about 2,500%. The move is aimed at reducing SHIB's high-distribution offering, so it can be more limited and time-efficient.

Shibarium, on the other hand, has reached another milestone in terms of transaction volume. as a Cryptopotato Recently reported, there are general transactions on the network It has passed 200 million mark, but the total number of blocks has risen to more than 2.3 million. Those who are willing to learn about the benefits and details of Shibarium can do so by watching our video below.

Meanwhile, IntoTheBlock 40% of SHIB owners are currently sitting on paper profits, while 52% are in the red. About 90% of investors were in the water four months ago

SHIB Wales on the move

Close-ups of Shiba Inu whales could also have played a role. As reported by WhaleAlert, one of these investors It has been transferred 2.2 trillion SHIB (around $24 million at current prices) from Binance to an unknown address. Switching from the exchange to self-sustaining methods can be considered bullish as it reduces immediate sales pressure.

According to IntoTheBlock, whales control approximately 78% of the Shiba Inu's circulating supply (over 580 trillion), and their efforts influence the token's value.