SHIB Madness in Five Blockchain Indicators

Blockchain analytics that provide a perspective about the massive rally of the meme crypto token.

Source: https://elevenews.com/2021/06/05/shib-price-prediction-shiba-inu-holds-its-ground-amid-market-crash-eyes-64-rally/

SHIB must have been the top trending topic in crypto yesterday. In a ridiculous rally, Shiba Inu (SHIB) pushed its market capitalization passed DogeCoin. The debate about the macro-factors behind the SHIB rally has been all over the news. In this blog post, I would like to show a few blockchain metrics that put this rally in perspective.

1. SHIB transactions over $100k have skyrocketed showing momentum among large investors. This shows that the SHIB rally is not only about small transactions. In the last 24hrs there were over 9000 transactions over $100,000.00.

Source: https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&chart=largeTransactions

2) Active SHIB addresses with real balance is at an all time high. Showing that the activity is not only for quick trades but for holding.

Source: https://app.intotheblock.com/coin/SHIB/deep-dive?group=network&chart=addressStats

3) SHIB activity in the western hemisphere is superior to the activity in Asia. So yes, Americans like market…