Shiba Inu (SHIB), regarded as the second-largest cryptocurrency meme coin, has caught the attention of whales and institutions. This increase in interest comes amidst a period of price consolidation, suggesting a possible bullish movement for the token.
The on-chain analytics firm IntoTheBlock has reported a significant 98% surge in SHIB's large transaction volume in the last 24 hours. This dramatic rise indicates increased participation and interest from whales and larger institutions, which is often seen as a precursor to potential bullish trends in the market.
The substantial increase in large transactions highlights the growing confidence among big players, which could translate into a potential buy signal for other investors considering SHIB's current market position. As whales and institutions adjust their portfolios, SHIB's price action could experience notable shifts.
