Shiba Inu (SHIB) has recently experienced a notable decline in whale transactions involving trillions of tokens. This drop in whale activity could potentially have an impact on the price of SHIB. Large transactions by whales often indicate the movements of major players in the market, affecting liquidity and price.
If this decrease in whale transactions continues, it could suggest that large holders of SHIB are less active, leading to a decrease in trading volume and potentially dampening price momentum. However, if the current support level at $0.00002724 holds, it could serve as a foundation for future growth. If buying activity picks up, the price might stabilize or even increase. On the other hand, if the support level breaks due to continued inactivity or sell-offs by whales, SHIB could experience further declines towards the next support level at $0.00002233.
Resistance for SHIB is seen at around $0.00002950. If the price manages to overcome this level, it could indicate a return of investor confidence and a potential upswing in price.
The movement of whales in the market can have different outcomes depending on whether they are buying or selling significant amounts of SHIB. It could either signal a potential price rally or further price drops.
It is important to note that the drop in whale activity has been accompanied by less volatile price movement. Therefore, it is advisable to remain cautious and monitor additional metrics to anticipate any upcoming price swings. With SHIB currently at a crucial point on its price chart, the community will be eagerly watching to see if these silent whales make any significant moves in the near future.