The Shiba Inu cryptocurrency (SHIB) continues to face major disruptions both in the price chart and on-chain realm. A recent significant event was a 99.5% drop in whale activity related to SHIB.
Details of Activity Changes
Over the past 48 hours, net inflow of tokens into wallets of investors holding at least 0.1% of all SHIB rose from 60.75 billion tokens to 2.97 trillion, then collapsed to 14.8 billion. Analysis shows that while outflows from wallets remained stable, inflows surged significantly before dropping to 760.82 billion tokens.
Impact on SHIB Price
Interestingly, during the significant inflow at whale addresses, the price of SHIB increased by over 6%. After the net flow picture stabilized, the token quotes did not come under significant pressure, declining by 2.32%.
Conclusions and Prospects
The drop in net flows is attributed to the deflation of the anomalous inflow surge, not increased outflows from whales. Shiba Inu's situation is stable with large investors showing interest in purchasing the token at $66 million per day. SHIB's price is not at risk of a major collapse due to the low level of large investor selling.
The activity around Shiba Inu remains a point of interest among large investors despite recent fluctuations. Such a significant drop in whale activity has not imposed significant pressure on the token's price, indicating a stable market environment.
