Dogecoin And Shiba Inu Whale Transactions Spike Despite Drop In Activity
Release: 2024/07/25 12:04 Reading: 883
- Original author：Bitcoinist
- Original source：https://bitcoinist.com/?p=311750
Crypto Whales Increase Transactions in Dogecoin and Shiba Inu
As the crypto market consolidates following its weekend rally, crypto whales are renewing their interest in meme coins like Dogecoin and Shiba Inu.
Dogecoin and Shiba Inu Witness Surge in Whale Transactions
According to data from IntoTheBlock, Dogecoin's large transactions spiked by 49.78% within a day. The number of transactions exceeding $100,000 rose from 1,030 on Sunday to 1,310 on Monday.
In dollar terms, the transaction volume increased from $921.39 million to $1.38 billion, translating to a 6.84 billion DOGE increase.
Similarly, Shiba Inu experienced a significant surge in its large whale transactions, with a value increase from $10.18 million to $37.57 million. The total number of transactions also climbed from 30 to 75.
Whale Activity Outpaces Investor Activity
Despite the rise in whale transactions for Dogecoin and Shiba Inu, daily active addresses have declined, indicating that the whale enthusiasm has yet to permeate the wider investor base.
For Dogecoin, daily active addresses decreased by 3.29%, reaching 44,100. Shiba Inu witnessed a steeper decline of 17.71%, bringing its daily active addresses down to 3,590.
Profitability Still Strong
Despite the recent market downturns, Dogecoin continues to hold a profit margin of 78%, with only 18% in losses and 3% at breakeven. Shiba Inu, on the other hand, has 52% of its holders in profit, 45% in losses, and 3% at breakeven.
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