SHIB, the famous dog-themed token, has seen a massive increase in transaction volumes involving whales after the latest partnership declaration. On Oct. 14, The Shiba Inu team introduced a partnership with Mass Finance that is being presented as the next financial layer of SHIB. It was made during an incredible increase of 517% in large SHIB transactions, indicating the rising attention of investors.
Partnership Announcement and Implications
Shiba Inuâs new partnership with Mass Finance introduces AI-driven legal and fiscal solutions into the SHIB ecosystem. This collaboration is set to simplify business operations, particularly for startups, funds, and incubators within the âShiba State.â According to the SHIB team, the partnership will streamline complex financial processes, making it easier for companies to handle operations across both Web2 and Web3 sectors.
Shiba Inu announces new partnership with MASS. Source: X
Mass Finance, supported by payment giant Stripe, provides a platform offering automated incorporation and compliance tools. The platform also handles money transmission services and account management through Evolve Bank & Trust, ensuring regulatory compliance and secure transactions.
In Sept., Shiba Inu collaborated with cryptography firm Zama to incorporate fully homomorphic encryption (FHE) into Shibarium, the projectâs Layer-2 solution. This technology is designed to enhance security by keeping sensitive data encrypted even during transactions. However, some of Shiba Inuâs past partnerships, including those with John Richmond and Wellies, have struggled to maintain long-term visibility.
Whale Activity Surges Following the Shiba Inu (SHIB) New Partnership
The L2 whale trading intensity rose significantly following the latest partnership announcement by Shiba Inu. According to IntoTheBlock, the large transaction volume jumped up by 517% to $58,42 million or approximately 3,12 trillion SHIB in one day.
Shiba Inu In/Out of the Money Positions. Source: IntoTheBlock
Large transactions, defined as those exceeding $100,000, reflect a renewed interest from high-value investors, often seen as a bullish indicator for the asset. Data from IntoTheBlock shows that 54% of SHIB holders are currently in profit, while 43% remain at a loss.
This surge in activity follows the announcement of the Mass Finance partnership and indicates that institutional investors and high-net-worth individuals are taking note of Shiba Inuâs evolving ecosystem.
SHIB Price and Market Impact
Following the announcement, SHIB saw a slight price increase, rising 4.73% in the past 24 hours to $0.00001859.
SHIB/USD 1-day price chart. Source: CoinMarketCap
The decreased exchange netflow, signaling reduced selling pressure, has also contributed to the upward momentum. Shiba Inuâs market capitalization now stands at over $10.6 billion, making it the second-largest meme coin behind Dogecoin and the 15th-largest cryptocurrency by market cap.
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