Recent shifts in cryptocurrency market activity show instability among notable coins Shiba Inu and Pi Network, while new project BlockDAG begins to draw investor attention.
Market Consolidation
Amidst current events, the activity of major players in the cryptocurrency market is decreasing. Both Shiba Inu and Pi Network demonstrate signs of fatigue, raising questions among traders about potential next steps for these assets.
Status of Pi Network
Pi Network (PI) remains around $0.78. Despite a minor rise earlier this month, PI is still 27% below the $1 mark. Technical indicators are showing downward pressure, and if the situation does not change, support at $0.71 may be tested. No aggressive buying or panic selling has been observed, leading many traders to simply watch the situation.
Decline in Shiba Inu Whale Activity
Shiba Inu (SHIB) is also showing signs of cooling. The volume of large transactions fell sharply, dropping 74% from 5.76 trillion to just 1.47 trillion SHIB. This decline typically indicates that major investors are becoming less active. Nevertheless, long-term holders are remaining loyal to their asset; however, without new triggers, SHIB may remain in a sideways trend.
Both SHIB and PI are sending cautious signals about the state of the market. As attention shifts to the rising project BlockDAG, older assets face challenges in maintaining previous momentum.
