SHIB whales are becoming more active.
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The activity of whales on the network has been on a massive rise, which has already been reflected in the enormous 5,000% increase of Shiba Inu's burn rate. According to the transaction volume on the network, we saw almost a $200 million increase of operations on the market.
The current behavior of large Shiba Inu investors shows that most of them have been actively trying to capitalize on the strong price spike and have been actively selling their holdings instead of accumulating more. Thanks to the increase in retail demand for SHIB, whales are able to cover some of their selling volume without harming the price of the asset. In case of a continuation of the rally, we might see a return of retail demand on the market and the strong rebound of Shib.
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