$420 Million of SHIB: Here's What Is Happening

Dog-themed cryptocurrency Shiba Inu has recently witnessed a surge in the volume of large transactions, netting in almost half a billion dollars.

According to IntoTheBlock data, Shiba Inu is reporting a remarkable $420.11 million in large transaction volume, estimating the total amount transacted by crypto whales on any given day.

The large transaction volume for SHIB grew 39.78% in the past day, amounting to 14.36 trillion SHIB. This surge underscores the growing interest and activity surrounding the digital asset, with whales taking advantage of downturns to amass more tokens.

At the time of writing, SHIB was down 1.52% in the last 24 hours to $0.0000285, hinting at a rebound after yesterday's drastic 13% drop. SHIB, albeit, remains down 17% in the last seven days.

Exciting updates for Shiba Inu ecosystem

During the week, information was provided on new updates to unleash in the Shiba Inu ecosystem.

Shiba Inu developer Kaal Dhairya revealed exciting updates on Shibarium blockchain explorer "Shibariumscan" by Blockscout. New features were introduced to improve the explorer's usability and deliver deeper insights to all Shibarium developers and users.

Mazrael, a Shiba Eternity advisor, tweeted about progress made in testing on the in-house build, with earlier bugs in the PlaySide build being thoroughly examined and fixed. The improvements, among others, will be deployed to the mobile version of Shiba Eternity in the next patch.

Shiba Eternity, the Shiba Inu CCG game, has captured over 500,000 players, an impressive feat given that it has yet to enter the expanding Web3 market.

Mazrael hinted that the play-to-earn (P2E) edition of Shiba Eternity was getting closer to its beta release, given the recent progress.