The large volume of transactions of Shiba Inu He currently paints a bearish image for the second largest meme coin of Market Cap, has registered a significant accident. This has raised concerns that whales may be losing confidence in the potential of memes currency, a development that could significantly affect Shib’s future trajectory.
The large volume of transactions of Shiba Inu is blocked 35%
Inotteblock data It shows that the large volume of transactions of Shiba Inu has crashed at 35%, with 1.41 billion Shib negotiated in the last 24 hours compared to the 2.19 billion Shib that were negotiated the previous day. This also represents a significant fall from the maximum of 7 days of 4.35 billion Shib, which was negotiated on February 7.
This development is significant, since it suggests that fatigue can be established to Shib whaleswhich are reducing the speed at which Shiba Inu accumulate. This paints a bearish image for memes currency, considering how these whales affect the price action. In addition, the buyer’s fatigue could make Shib loses crucial support levels as the sales pressure overwhelms the meme currency.
In addition to the fall in large transaction volumes, ‘Net network growth‘It is another chain metric that paints a bearish image for Shiba Inu. There has been a drop in the rate to which new users adopt the meme coin, which is bassist for the price of Shib. The lack of new investors means that there is less space for the meme currency to grow.
It is also worth mentioning that 52% of Shiba Inu holders are currently without money, which is also bassist for the meme currency. Shib could face a sales wave of these holders while looking to reduce their losses.
Shiba Inu has had a lower performance Since the beginning of the year, which is undoubtedly a cause of concern for these headlines. The MEME currency currently has a loss of year (YTD) of more than 22% and has been one of the coins very affected by the descending trend of the market.
Shib’s great movement still at stake
Cryptographic analyst Javon brands He confirmed that there is still a great movement at play for Shiba Inu. In an X publication, he declared that Shib seems to be configured in a large inverse head and shoulder pattern and may be finishing his final shoulder now before obtaining remarkable performance. The analyst predicted that Shib could enjoy a rally of more than 399% and run towards the target of $ 0.000081.
Meanwhile, cryptographic analyst Sib Spain commented that Siba Inu is about to bouncing strongly, indicating that an upward investment was on the horizon. His accompanying table showed that Shib could Rally at $ 0.000036 As this recovery does.
At the time of writing this article, the price of Shiba Inu is quoted at around $ 0.00001656, more than 6% in the last 24 hours, according to data of coinmarketcap.
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