Shiba inu whale activity is submerged by 79% in three months. What is happening?

The meme coins market has seen a remarkable transformation in the last year, the chips of great capitalization such as Dogecoin (Doge) and Shiba Inu (Shib) have managed to remain at the forefront. Specifically, Token Shib has experienced impressive growth, increasing value by approximately 65% ​​in the last year.

However, the current uncertain climate has not saved any meme token of great capitalization, including Shiba Inu, with deep corrections and slow lateral movement that affects most of the market in the last two months. As the big investors now seem to be leaving the market, this condition of DOUR could persist more time than expected.

Shib transactions of $ 1 million in a constant decrease

In a publication on platform X, the popular cryptographic analyst Ali Martínez revealed that the class of whales of Shiba Invert investors has become less active in the last three months. This observation in the chain is based on the metric of the whale transactions of Santiment, which tracks the number of SHIBS transactions worth more than $ 1 million.

Whales refer to entities or individuals who have significant amounts of a specific cryptographic active (Shiba Inu, in this scenario). Cryptographic whales are often considered key actors in the market, since their purchase or sale activities can have a significant impact on the price of Shib; resulting in speculation and potential changes in the market.

According to Martínez, there has been a 79% drop in the activity of Shiba whales in the Siba Inu Network, which suggests a possible change in the feeling of investors. A constant decrease in whales activity often indicates a decrease in the confidence or interest of the main headlines, especially as they seek to rotate in other assets.

As can be seen with the recent action of Shiba Inu, a sustained recession in large whale transactions is also often associated with a corresponding decrease in the value and lateral intermittent movement. Therefore, if Shiba Inu’s price is to resurrect its market drop, whale activity in the network would need to resume as quickly as possible.

Shiba Inu General Price

At the time of writing this article, the Token Shib is valued in around $ 0.0000156, which reflects a price jump of almost 3% in the last 24 hours. Although Shiba Inu seems to be consolidating around the level of $ 0.000015 for most of February, the MEME currency has not yet been completely recovered from its recent fall towards $ 0.000012 at the beginning of the month.

According to Coingcko data, the second largest meme coin has still decreased by more than 20% in the last 30 days. Meanwhile, the price of Shiba Inu has been reduced by almost 50% in the last three months.

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