In the past 24 hours, whale transactions involving Shiba Inu (SHIB) have dropped significantly, with less than one trillion SHIB traded. This marks a sharp decrease from previous volumes, where multiple trillions of SHIB were frequently transacted. Whale activity has slowed, and the transaction volume now stands at 925.79 billion SHIB. This is a steep decline from the seven-day peak of 3.22 trillion SHIB recorded on October 18, 2024.
Source: IntoTheBlock
The drop in whale activity signals a potential shift in the market. Lower interest from major investors could impact SHIB’s price movement. On the charts, Shiba Inu currently hovers around $0.000018, testing critical resistance levels. Exponential moving averages (EMAs) suggest a neutral market sentiment, with the price stabilizing near this mark. The question remains whether SHIB can break through resistance or face more downward pressure.
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Whale Activity’s Impact on Price Movement
Historically, whale activity has been a major driver of SHIB’s price fluctuations. Large transactions often cause substantial price shifts, but the current low volume indicates waning momentum from big investors.
This slowdown threatens SHIB’s short-term prospects, as a decline in whale interest could result in stagnant or falling prices. Without a resurgence in whale transactions or institutional interest, SHIB may continue to face a cooling-off period.
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On the other hand, a rebound in large trades could reignite investor enthusiasm and push the price upward. However, as long as whale activity remains low, SHIB’s potential for significant price movements will likely be limited.
Outlook for SHIB’s Future
As the market stands, SHIB’s future remains uncertain. The absence of strong whale participation reflects a cautious stance among large investors.
If SHIB manages to maintain its current price level and attract renewed interest from major players, a reversal in fortune could occur. However, if whale transactions continue to lag, the asset could face additional downward pressure, leaving the outlook murky.
