Shiba Inu Average Balance Triples As Volume Skyrockets By 500%

Major memecoin Shiba Inu SHIB/USD saw the average balance of its holders more than triple while SHIB trading volume skyrocketed.

What Happened: Whale — cryptospeak for large holder — tracking service WhaleStats shows the average balance of Shiba Inu-holding wallets increased by over 226% over the last 24 hours, reaching 2.35 billion SHIB per wallet. Furthermore, the trading volume registered an impressive increase of 474% over the last 24 hours, showing a clear pickup in market activity.

See Also: IS SHIBA INU (SHIB) A GOOD INVESTMENT?

The pickup in on-chain Shiba Inu activity follows yesterday's reports that it was listed on major London-based digital payment platform Wirex. This enables the 4.5 million users of the Wirex app located across 130 countries to buy and exchange Shiba Inu. Recently, market metrics also showed that Shiba Inu has re-emerged among the 10 most purchased tokens by Ethereum ETH/USD whales.

SHIB Price Action: As of press time, Shiba Inu is trading at $0.00002182 after seeing its price fall by 2.93% over the last 24 hours.