Recently, a striking phenomenon in the Crypto Assets market is the sudden surge in on-chain activity of Shiba Inu (SHIB). In just 24 hours, the total transfer volume of SHIB reached an astonishing 3.47 trillion coins, a figure that is enough to attract the attention of market participants.

This sudden increase in on-chain activity may stem from multiple factors. It could be the result of large investors (commonly known as "whales") adjusting their portfolios, or it might be due to many small investors engaging in frequent trading. It may even indicate that the market is going through an accumulation phase, with investors transferring assets to cold wallets or custody accounts.

However, it is important to note that an increase in on-chain activities does not necessarily lead to an immediate rise in prices. This phenomenon more reflects an increase in market participation, suggesting that there may be price fluctuations in the short term.

The relationship between on-chain activity and price is complex. If a large number of transfers occur between exchanges, it may indicate that investors are ready to sell at any time, which could put downward pressure on the price. Conversely, if funds flow into personal wallets, it may signal a trend towards long-term holding, which could support the price.

Overall, although the surge in on-chain activity of SHIB has garnered widespread attention in the market, investors must remain cautious when making decisions. This phenomenon indeed reflects the heightened market sentiment, but how it specifically affects price trends still requires further observation of market movements and other related factors.