Cryptocurrency analytics firm Santiment is tracking Shiba Inu's large purchases.
According to a new post, the data aggregation company shown that whales woke up suddenly on August 14 and made the most transactions worth more than $8 in four months.
“It is no coincidence that whales are very active. There were 433 transactions worth $100.000 or more, the most in four months.”
Shiba Inu recently up 50%, from an August 10 low of $8 to a high of $0,000012 on August 0,000018.
The recent rally helped push SHIB up 12nd place among the largest digital assets by market capitalization.
IntoTheBlock also revealed that 68% of Shiba Inu holders have held for 1 to 12 months, 28% have held for more than a year, and only 4% have held for less than a month.
Although SHIB has recently rallied, the altcoin is still down more than 80% from its all-time high of $0,00008616 reached at the end of October 10.