Shiba Inu, a well-known meme coin, is seeing a decline in whale transactions and trading activity, indicating potential changes in its future.

Decline in Whale Transactions

The large SHIB transactions, usually executed by institutional players or cryptocurrency whales, have significantly decreased. Only 88 large transactions were recorded in the last 24 hours, compared to a seven-day high of 383 transactions on October 1.

Current Market Dynamics

SHIB's price is currently trading at about $0.00001744. The Relative Strength Index is around 63, signaling that SHIB still retains some bullish momentum but may be nearing overbought levels.

Future Prospects of SHIB

SHIB's future trajectory depends on several factors, including the return of large players to the market. If whale transactions continue to slow, SHIB might face increased selling pressure and could dip below its current support levels.

The decline in whale activity might suggest the need for clearer signals to rekindle interest in Shiba Inu. A resurgence in whale interest and updates to the ecosystem might positively impact the coin's value.