Recently, data on the activity of major Shiba Inu (SHIB) holders showed a significant drop in key metrics.
Drop in Large Transaction Volume
According to data from IntoTheBlock, the volume of large transactions of the popular meme cryptocurrency fell 57.73% to 1.12 trillion SHIB over the past 24 hours. In dollar terms, this meant a drop in transactions from $35.9 million to $14.8 million. In total, there were 48 such transactions during this period.
Decrease in Whale Activity
The activity of whales holding at least 0.1% of SHIB also decreased. The Inflow indicator shows a drop in inflows by 61.7%, reaching a value of only 295.42 billion SHIB. Outflows were down too, falling to 300.38 billion SHIB, which is 45.47% lower than the day before.
Price Uncertainty for Shiba Inu (SHIB)
Shiba Inu (SHIB) prices remained in a tight range in September, without significant fluctuations. The only exception was a mid-week occurrence when the overall crypto market bounced back from its August lows. The decline in whale activity underscores their crucial role in the current liquidity and trend shifts in the market.
The drop in Shiba Inu whale activity raises questions about the future dynamics of this cryptocurrency. Market uncertainty persists, and further developments will depend on the strategies of major players.
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