According to CoinMarketCap, in the last 24 hours, the trading volume of the second largest Shiba Inu meme currency has jumped by more than 220%. Trading volume is the total volume of coins traded between buyers and sellers.
The price also increased, by more than 6% over the same period.
According to data shared by wallet tracker WhaleStats, over the past 24 hours in particular, activity in the top 100 wallets on Ethereum with the SHIB token has increased, as whales have mostly bought more of these meme coins.
Whales have been buying massive amounts of Shiba Inu. The listing shows that these SHIB pieces were worth $28,276,518, $17,603,756, $6,374,148 and then dropped to just over $2,000,000.
A massive amount of SHIB was also burned in the past week. Over the past seven days, the SHIB army has managed to remove about half a billion Shiba Inu from the outstanding supply.
At press time, the popular canine crypto-currency is sitting at $0.000008898, according to data from CoinMarketCap.