MEMED SHIBA INU IS Facing renewed pressurewith its price reflecting a decrease in 24 -hour deadlines for seven days. In addition, the data in the chain reveal a similar tendency of a significant fall in large transactions, Raising concerns about the whaling activity. The latest figures from Endotheblock show a strong decrease in both the number and the volume of large transactions within the Siba Inu ecosystem, which indicates the confidence of investor confidence or the temporal stagnation of the market in the coming days.
Shiba Inu large transactions suffer 61% accident
Recent data from the Intotheblock chain analysis platform open an interesting dynamic among the big directions that Shiba Inu have. These interesting dynamics are none other than the activity of whales, which has received great success in the last 24 hours.
The trend between Shiba Inu’s great directions is revealed through Intoteblock’s Great metric transactionswhich tracks the data surrounding transactions with a value of $ 100,000 or more. This metric serves as a valuable tool to evaluate the feeling of the market, since it captures the movements of high value investors, whose actions often influence the behavior of retail merchants.
An increase in large transactions is generally associated with growing confidence and accumulation of accumulation, while a strong decrease, as observed in the last day, can indicate a change towards caution. Therefore, the recent decrease in large transaction activity implies that investors are taking profits or remain cautious.
Surprisingly, the number of transactions collapsed from 353 to 136 in the last term of 24 hours. This translates into a 61%decrease, suggesting that many important holders may be moving away from the market due to the lack of bullish conviction.
Not only did the number of large transactions decrease, but the general volume of transactions that involved the main operations also received a blow. The data of Endotheblock reveal that the total volume of Shib transferred in these high -value transactions fell by approximately 55% of 6.81 billion Shib to 3.05 billion Shib in the last 24 hours. In terms of US dollars, this translates into a 58% drop from $ 128.95 million to $ 54.74 million.
What effect does this have for the price of Shib?
The strong decrease in large transactions could have serious implications for the price of Shiba Inu, particularly in the short term if the whale activity does not recover soon. This decrease in whale activity is already contributing to a price decline for meme currencywhich has witnessed 2.7% and 9.5% decrease in the last 24 hours and seven days, respectively.
This decline has seen Shiba Inu Lose support at $ 0.000020although it has managed to keep over the next support of $ 0.000018. However, there are still the risk of additional decreases below $ 0.000018 if the whale activity continues to decrease. Without a renewed whale interest, Shib’s price can continue to fall, as the absence of strong purchase orders It leaves it more vulnerable to volatility and bearish feeling.
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