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Over the past 24 hours, less than one trillion SHIB worth of whale transactions have been made on Shiba Inu, indicating a noticeable decline in the volume of large transactions. This is a substantial decrease from previous peaks, when SHIB frequently claimed multiple trillions in volume.Â
The seven-day peak as indicated by the chart was 3.22 trillion SHIB on Oct. 18, 2024, the most recent figure 925.79 billion SHIB indicates a significant decrease. Whale activity appears to be declining, which could indicate a decline in interest from major investors and have wider ramifications for the price movement of SHIB. Shiba Inu is seen on the price chart circling the $0.000018 range, testing some significant resistance levels. Based on EMAs that point to generally neutral market sentiment, the price has been stabilizing around this threshold.Â
SHIB’s short-term outlook is jeopardized by the significant decline in transaction volume. Whale activity has historically been the primary driver of large price movements for assets such as SHIB, and the lower volume suggests that momentum among major players is waning.Â
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Unless there is a shift in market sentiment the current decline in whale activity may indicate a cooling-off period for Shiba Inu. Large investors may cause further stagnation or even a price decline if they keep lowering their exposure to SHIB. But a rebound in volume particularly from institutional or whale investors might pique interest once more and start a new upswing.Â
As things stand right now SHIB’s immediate future is unclear. A cautious market may be indicated by the lack of significant whale participation. An asset reversal may occur if SHIB is able to hold onto its current price level and attract the attention of major investors once more. If not there could be additional downward pressure if big transactions continue to be low volume.
