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Sujit Kumar
Oct 21, 2024
by Sujit Kumar

Shiba Inu Whale Activity Drops Significantly, Raising Concerns

Shiba Inu Whale Activity

Table of contents

  1. Whale Transactions Hit Seven-Day Low
    1. Declining Volume Raises Market Concerns
Shiba Inu (SHIB) has experienced a noticeable decline in whale transactions over the past 24 hours, with less than one trillion SHIB being moved by large investors. This marks a substantial drop from previous volumes, which frequently saw multi-trillion SHIB transactions.

Whale Transactions Hit Seven-Day Low

On October 18, 2024, SHIB peaked at 3.22 trillion in whale transactions. However, recent data shows a sharp decrease to just 925.79 billion SHIB. This drop signals waning interest from major investors, which could have broader implications for SHIB’s price movement. Currently, SHIB is trading around $0.000018, testing key resistance levels as the market stabilizes.

Declining Volume Raises Market Concerns

Historically, whale activity has driven large price movements for assets like Shiba Inu. The recent drop in transaction volume indicates a cooling off period, with large investors reducing their exposure. If this trend continues, SHIB could face further stagnation or even a potential price decline.

However, if whale investors or institutions resume activity, it may spark renewed interest and drive SHIB into a bullish upswing. For now, the future of Shiba Inu remains uncertain, with market sentiment hanging in the balance.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Shiba Inu Whale Activity
Shiba Inu Whale Activity Drops Significantly, Raising Concerns
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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