The activity in Shiba Inu over the past two days has been unusually high, especially in terms of large transactions. According to an analysis by a blockchain analytics firm, between October 17th and 18th, a total amount of $40 million worth of SHIB transfers of a minimum of $100,000 each took place. Those totals reached 5.56 trillion and 5.96 trillion SHIBs that were moved. This spike in large transactions seems to be the result of two separate SHIB transfers, worth over 1 trillion SHIB tokens each, which happened on October 16th. Eye-catching for its abnormality, it is significant that the influx of whales and institutional mandates influencing Shiba Inu is demonstrating accelerated trading volumes in the cryptocurrency since these types of shifts can signal intentions of either capital accumulation or distribution. As it stands, it is not known the extent to which this increase in enormous transfers of Shiba Inu associate with a foreseeable price action; yet it certainly denotes eagerness of important participants in the ecosystem.
