Shiba Inu Sees 1.97T Volume in 24 Hours with Bears in Control

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On-chain activities point to increased traction towards SHIB, an indicator of a possible price rebound.

The second-largest memecoin, Shiba Inu, might be on the path to a notable rebound after on-chain activities showed increased whale activities. Data from IntoTheBlock shows a momentous increase in the number of large transactions on the network, signaling the reawakening of whales.

According to the data, the number of large transaction volumes involving SHIB reached 45 in the last day, bouncing from a 7-day low of 34 transactions. This signals a notable surge in transactions above $100,000 as institutional investors show renewed interest.

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