Continuing our crypto news and price analysis section, today we will specifically analyse the Monero (XLM), Chia (XCH) and Shiba Inu (SHIB) assets.
Prices and market statistics of the crypto: Monero (XLM), Chia (XCH) and Shiba Inu (SHIB).
The price of Monero (XMR) is currently set at 152.22 USD, which represents an increase of 1.98% over the past week.
However, over the past 24 hours, the price has fallen slightly by 1.47%. Significantly, Monero’s current price is 70.59% below its all-time high of USD 517.62.
In terms of market capitalization, Monero boasts a figure of USD 2.8 billion, while the volume of transactions in the last 24 hours is USD 53.2 million.
The outstanding supply is XMR 18,343,249.32, reflecting the current availability of this cryptocurrency on the market.
The overall statistics show a weekly growth trend for Monero, offering an interesting prospect for investors and cryptocurrency enthusiasts.
Chia’s (XCH) price is currently set at USD 21.33, marking a significant decrease of 10.18% in the last week.
In the last hour, the price has dropped by 0.07%. It is important to note that Chia’s current price is 98.90% below its all-time high of USD 1,934.51.
In terms of market capitalization, Chia has a market capitalization of USD 185.8 million, while the volume of transactions over the last 24 hours was USD 4.6 million. The outstanding supply is 8,707,672 XCH, representing the amount of this cryptocurrency currently available on the market.
Weekly statistics show a downward trend for Chia. This situation may pique the interest of those who closely follow the dynamics of the cryptocurrency market.
The price of SHIBA INU (SHIB) currently stands at USD 0.00000684, registering a significant decrease of 5.26% over the past week. In the last hour, the price rose by a modest 0.15%, but has fallen by 1.73% over the past 24 hours.
It is worth noting that the current price of SHIBA INU is significantly 78.85% below its all-time high of USD 0.000032.
In terms of market capitalization, SHIBA INU boasts a figure of USD 4 billion, while the volume of transactions over the last 24 hours amounts to USD 76 million.
The outstanding supply is a remarkable 589,346,914,631,298.1 SHIB, representing the amount of this cryptocurrency currently available on the market.
Despite the price drop in recent weeks, SHIBA INU maintains its popularity in 15th place. Investors and observers of the cryptocurrency market may find this situation interesting for assessing market dynamics.
Shiba Inu registers significant transaction volume of 4.48T SHIB
In the midst of a broader cryptocurrency market downturn, Shiba Inu has shown remarkable resilience by maintaining high transaction volumes on its network.
On the 9th of October, data from IntoTheBlock revealed that SHIB saw a transaction volume of up to $4.48 trillion in 24 hours.
This surge followed a significant increase from $1.76 trillion on 7 October to almost $4.7 trillion on 8 October. These figures indicate considerable activity on the chain, despite the fact that the price of SHIB has only risen by 1% in the last 24 hours, trading at around $0.00000689.
Shiba Inu holders actively moving funds
Spikes in transaction volume can serve as indicators of both trading activity and the movement of tokens for non-speculative purposes. Such spikes often indicate the possibility of trend reversals, especially during periods of market volatility.
The data paints a picture of SHIB holders actively shuffling tokens amid the recent selling pressure. The increase in transaction volume suggests a combination of panic selling by some holders and potential hoarding by larger investors.
Interestingly, this behaviour deviates from the typical trend where transaction activity tends to decline during market sell-offs. The ability of the Shiba Inu network to maintain such high volumes suggests continued commitment even in the face of falling prices.
In the short term, continued uncertainty makes it difficult to predict the future direction of the SHIB. However, the unusually high level of activity on the chain suggests that traders and investors remain vigilant and attentive to price action.
Should these high transaction volumes continue, they could herald the possibility of an imminent recovery rally for Shiba Inu. For the moment, SHIB holders seem undeterred by the negative momentum that has gripped the broader market.
This remarkable volume of transactions underlines the unique dynamics and strength of the community surrounding Shiba Inu, which continues to be an intriguing token within the crypto space. As the cryptocurrency market continues to evolve, all eyes will be on SHIB to see how it navigates these turbulent waters.