CandleFocus Shiba Inu (SHIB) Skyrockets 109% in Activity Amid $229 Million Market Sell-off
2024-10-08
Author: Content Editor
The dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a significant increase in large transaction volume, indicating heightened activity among whales and institutional players. In the past 24 hours, SHIB's large transaction volume amounted to $52.87 million, representing a 109.83% increase. Meme coins, including Shiba Inu, gained popularity over the weekend as social sentiment and risk-taking among traders increased. However, SHIB's price has since dropped by 5.6% in the last 24 hours and 6.89% in the past week. The market sell-off has also led to over $229 million in liquidations on crypto-tracked futures, with Bitcoin and other major cryptocurrencies experiencing significant declines. Market sentiment has been dampened by the lack of fresh measures and the absence of a long-awaited American stimulus package. Cryptocurrency traders are now awaiting clues from Federal Reserve meetings for further positioning.
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