Shiba Inu Records 300% Surge in On-Chain Activity and Volume
Shiba Inu (SHIB) has seen a significant rise in on-chain activity, with a 300% increase in transaction volume, reaching over 4.25 trillion tokens on August 25. This surge indicates a potential market bottom as large holders engage more actively.
Key Highlights
- On August 25, SHIB's transfer volume surged from 1.13 trillion to 4.25 trillion tokens.
- Transaction counts decreased slightly from 5,478 to 5,355, indicating larger transaction sizes rather than a higher number of transfers.
- As of August 27, transfer volume cooled to 3.26 trillion tokens, with transaction counts dropping to 4,811.
- Current SHIB price is around $0.000012; the recent volume surge suggests a potential market floor.
- Analyst Kamran Asghar highlights that SHIB's long-term consolidation may end soon, predicting a possible price target of $0.00009, which would represent a 614% increase.
