Shiba Inu (SHIB) has experienced a major decline in large transaction volumes, indicating a decrease in activity from whales and institutional players. Data from IntoTheBlock reveals that the volume of transactions exceeding $100,000 USD has dropped by an astonishing 83.77% in the past 48 hours, resulting in a decrease from 11.65 trillion SHIB tokens to just 1.89 trillion SHIB tokens. This decline corresponds to a significant decrease in monetary terms as well, with a drop of 85.2% from $321.63 million to $47.69 million. The price of Shiba Inu also fell by 2.4% during this period. The number of large transactions has also seen a drastic decline, plunging from 584 to only 99 in a span of two days.
These large transactions are typically associated with the actions of whales and institutional players, and their decline suggests a notable reduction in their involvement within the Shiba Inu ecosystem. This decrease in whale activity may be perceived as negative, but it is essential to consider the reasons behind it. It is known that significant players often accumulate positions when the market and price charts are relatively calm.
Interestingly, despite SHIB’s decreased volatility over the past month and a half, trading mostly sideways, the price of Shiba Inu has been registering higher lows, indicating an uptrend. This positive trend may suggest that whales have finished accumulating SHIB, leading to the possibility of a significant movement in the token’s future. Whether this movement will be a rise or fall is yet to be seen.