The cryptocurrency Shiba Inu (SHIB) has shown a sharp decline in large holder inflows over a short period, raising market concerns.
Decline in Large Holder Inflows
On-chain data reveals that large holder inflows for Shiba Inu decreased by 97% over three days, dropping from 3.06 trillion SHIB on June 23 to 84.76 billion SHIB on June 26. This abrupt decline indicates a slowdown in large investor activity.
Shiba Inu Prices and Economic Conditions
After reaching $0.00001192 on June 24, Shiba Inu faced profit-taking. At the time of writing, SHIB was trading at $0.00001115, down 0.75%. This trend occurs amidst a broader market correction influenced by rising inflation rates.
Market Sentiment and Investor Expectations
The decline in large holder inflows may suggest that major players are adopting a cautious stance amid recent crypto market volatility. This could reflect a general risk-off sentiment ahead of potential economic triggers and expectations of changes in monetary policy.
The situation with Shiba Inu highlights the ongoing challenges in the cryptocurrency market, where shifts in large holder inflows and economic data can significantly impact prices and investment decisions.
