The Shiba Inu (SHIB) token has faced a significant decline in large transaction volume, reflecting the overall volatility of the cryptocurrency market.
Impact of Volatility on SHIB's Large Transaction Volume
On June 18, the large transaction volume for the SHIB token decreased by 88.09%, according to data from the analytics platform IntoTheBlock. This decline occurred amidst overall instability in the cryptocurrency market, as leading cryptocurrency prices continue to tumble.
Analysis of SHIB Holder Activity
In the past 24 hours, the total net inflow of tokens to wallets of SHIB investors holding at least $100,000 has fallen to $23.36 million. This drop indicates a decrease in trading activity among major investors, such as 'whales.'
Current SHIB Price and Outlook
Despite the decline in large transaction volume, the price of SHIB has increased slightly by 0.75% over the last 24 hours, trading around $0.00001170 at the time of publication. Investors remain watchful as uncertainty persists in the market.
The decrease in large transaction volume and market instability raise questions about the future prospects of SHIB. Holder interest remains in doubt, yet the token's price shows slight signs of resilience.
