EddieJayonCrypto
17 Jan 24
The recent surge in network transaction volumes led to a sharp decline in the price of SHIB tokens, with approximately $56.5 million in transactions from high-value movers. The reduced liquidity caused by bearish whale sentiment, as well as the launch of the Shibacals project for minted NFTs with a ...
The recent surge in network transaction volumes led to a sharp decline in the price of SHIB tokens, with approximately $56.5 million in transactions from high-value movers. The reduced liquidity caused by bearish whale sentiment, as well as the launch of the Shibacals project for minted NFTs with a physical twin, are key developments in the SHIB space. Additionally, the expectation of an NFT resurgence in 2024 adds further complexity to the current state of SHIB.
SHIB whales caused the token’s price to fall sharply as network transaction volumes surged 651% in the past 24 hours. The past 24 hours recorded transactions worth $56.5 million from those who moved $100,000 or more. The transactions moved approximately 5.9 trillion SHIB tokens in 18 transactions. In response, the price of SHIB dipped sharply yesterday from $0.00000970 to $0.00000943, a decline of 2.8%.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.