• Shiba Inu (SHIB) has become the top gainer among leading 100 cryptocurrencies, with its price getting close to $0.00001.
• Whale activities and transactions have been high over the past week, as evidenced by Santiment data.
• The social volume of SHIB rose when it broke the $0.00001 mark for the first time in three months.
Shiba Inu Emerges as Top Gainer Amid High Whale Activity
Price Surging Close to the $0.00001 Mark
The second-largest meme coin, Shiba Inu (SHIB), became the top gainer among leading 100 cryptocurrencies, with its price getting close to the $0.00001 mark. Santiment data reveals that SHIB’s recent rallies are activated by high whale activities and transactions over the past week, with 24-hour trading volume exploding by 53% over the past day reaching $380 million.
Whale Transactions Spiking
Shiba Inu whale transactions consisting of at least $100,000 worth of SHIB witnessed a sudden spike from 46 on Aug 4 to 152 on Aug 5 and currently stands at 64. Similarly, whale transactions consisting of at least $1 million worth of SHIB also rose from one on Aug 6 to nine transfers on Aug 7 and currently stands at three trades.
Social Volume Soars When Price Breaks Above Key Level
Shiba Inu’s social volume has also witnessed many highs and lows over the past month – exploding when it broke through above an important level for the first time in three months before dropping off again after peaking out on Aug 6th..
Developers Hinting at Launching Shibarium Ecosystem Soon
The potential bull momentum for Shiba Inu comes while developers hint at launching their Shibarium ecosystem soon; which could provide a further boost in price as users adopt this new platform moving forward into August 9th and beyond .
Current Status Of Shiba Inu Token (SHIB)
At present, SHIB is up by 9.3% in 24 hours – trading at around 0.0000098 USD – and regaining 14th rank among top cryptocurrencies with a market capitalization of almost 5 billion dollars USD .