Shiba Inu (SHIB) has registered large transactions in its ecosystem, and has recorded a 173% leap within the last 24 hours. According to Intotheblock data, Shib recorded an increase in transactions as it moved SHIB amid dynamic market trends.
1.3 trillion shibaiin traded in one day
In particular, there is 1.31 trillion Siv in trade, worth around $15,589,000 within 24 hours. Within the past seven days, the total massive transactions have reached 1.54 trillion Syb as investors continue to trade meme coins.
This shows SHIB’s interest as these large transactions refer to transactions worth over $100,000. The increase in these types of transactions is of interest to market participants and investors as it suggests portfolio rearrangements ahead of possible gatherings.
However, Shiv continues to experience price fluctuations despite a recent 6.97% jump in the last seven days.
At the time of reporting, the SHIB priced at $0.00001192 was changing hands. This has been a 2.75% decrease over the past 24 hours. This decline may have been caused by reducing investor interest following price volatility. Within the same time, trading volume fell 17.73% to $151.49 million.
With the recent surge in large transactions, market watchers may consider committing funds while teasing the possibility of memecoin rebounds.
Key SHIB Performance Metrics raise concerns
Investors’ recent pullbacks may have been driven by Shiv’s performance, and recently reached number one in the rankings. Shiv, previously ranked 16th in terms of market capitalization, is framed by Hedera (HBAR).
The market capitalization difference is less than $100 million, but it was enough to push Shiv to 17th place.
Furthermore, some community members are not impressed by the ecological deflation movement. As reported by U.Today, the burn rate on Shiba Inu recently crashed to record low levels. Daily burn rates decreased by a massive 95%, resulting in only 964,000 shiv token burns.
