Parking in the Green Zone, Following is Shiba Inu Crypto Performance Today, March 12 2024

Previously it was reported that large-scale investors, or bookies (Whale) indicated a new pivot towards Shiba Inu (SHIB) after divesting from PEPE (PEPE). One bookie transaction recorded the sale of 1.97 trillion PEPE tokens worth more than USD 6 million.

The move resulted in huge profits of almost USD 3.5 million for investors. The bookie quickly reallocated its funds, acquiring 75.9 billion SHIB tokens with an investment of almost USD 900 thousand.

Following the transaction, PEPE experienced a significant price decline of 17.71 percent, indicating a market correction from its recent peak. The Relative Strength Index (RSI) for PEPE shows a value of 67, reflecting the sudden change in market dynamics and investor sentiment.

Despite the bookie-driven interest, the SHIB price did not escape a decline of 5.91 percent over the past day. However, in contrast to the price trend, SHIB network data paints a more positive picture with an increase in new wallet addresses and a spike in transaction speed, indicating increased activity in its ecosystem.

According to Bitcoin Haber News, written on Sunday (3/3/2024), the token burning mechanism in the SHIB ecosystem also experienced an unprecedented increase, with 3.7 million tokens burned in one day. This marks a remarkable increase of more than 30 thousand percent.

Meanwhile, the Shibarium network, a key component of the Shiba Inu infrastructure, is seeing a decline in new account registrations, offering a different perspective on the dynamics of the evolving ecosystem.

These contrasting bookmaker moves and network signals have sparked curiosity about the underlying drivers of SHIB's market behavior, as investors and analysts continue to monitor the meme coin's evolutionary landscape.