According to data provided by IntoTheBlock, 41% of Shiba Inu (SHIB) holders are currently achieving profits at current price levels. There is an upward trend for SHIB, as on-chain signals show positive movements, with a 3.10% increase in large transactions and a 0.29% rise in network growth.
The current price of SHIB is $0.00001084, recording a 2.67% increase in the past 24 hours and an astonishing 33.99% surge in the last 30 days. SHIB’s trading volume has reached $238.91 million, indicating a significant 9.24% rise in the past 24 hours.
The Positive Momentum for Shiba Inu
This positive momentum serves as a breath of fresh air for Shiba Inu enthusiasts, as the cryptocurrency market has witnessed its fair share of volatility lately. The increase in large transactions and network growth suggests growing confidence among investors, supporting optimistic expectations for SHIB.
In a related development, Lucie, the official marketing manager of the Shiba Inu team, recently made an announcement on social media, adding to the positive sentiment surrounding SHIB. Lucie stated that another significant amount of Shiba Inu tokens, totaling 8,471,583,707 SHIB with an estimated value of $90,857, has been transferred to non-spending wallets this month.
This strategic move to reserve a substantial portion of distinctive SHIB tokens in non-spending wallets is seen as a measure to reduce supply and create scarcity. The Shiba Inu team continues to implement initiatives aimed at enhancing overall sustainability and market dynamics for SHIB.
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Investors and analysts are closely monitoring these developments, as the upward signals on the chain and strategic token movements increasingly contribute to a favorable environment for Shiba Inu. The community remains eager to see how these factors will impact SHIB’s future trajectory in the ever-evolving cryptocurrency landscape.
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