(Technical Analysis) Shiba Inu Sparks Whale Activity: Major SHIB Transfers Surge by 360%

In a recent update on X, the on-chain analytics firm Sentiment highlighted trends in Whale Transaction Count for several leading altcoins. This metric measures the total number of transfers on a network valued at $100,000 or more, offering insights into the activity of large investors in the cryptocurrency market.

Here’s a table ranking digital assets with a market cap of at least $2 billion, based on the most recent weekly changes in their Whale Transaction Count:

As shown in the table above, the leading coins over the past week in terms of Whale Transaction Count are Injective (INJ), Wrapped Bitcoin (WBTC) on the Optimism blockchain, and Shiba Inu (SHIB). The Whale Transaction Count has surged by 455% for INJ, 420% for WBTC, and 360% for SHIB compared to the previous week. These substantial increases indicate a notable spike in whale activity across these networks.