390 Billion SHIB in 24 Hours: New Shiba Inu Anti-Record?

With whale transaction volumes falling to a dangerous low, Shiba Inu is currently going through one of its most difficult times. A substantial decrease from prior activity levels has been observed over the past 24 hours, with only 16 large transactions totaling just 392.05 billion SHIB being recorded.

This abrupt drop implies that major investors, sometimes known as whales, are pulling out of SHIB and decreasing their exposure to the token. A wider pattern of declining interest from major participants in the SHIB ecosystem is revealed by analyzing the on-chain data. Whale inactivity is increasing as evidenced by the difference between the most recent 24-hour low and the seven-day high of 45 large transactions.

When it comes to the token, this lack of activity is concerning because it suggests that major investments in the meme coin market are no longer seen as attractive for SHIB. An in-depth examination of the global In/Out of the Money indicator reveals that at present, 45.46% of SHIB holders are profitable while 52.79% are not. The fact that a large number of investors are experiencing losses at the current price, which is circling around $0.000013, adds to the waning confidence in SHIB’s potential performance.

What worries about SHIB’s long-term sustainability is the lack of whale activity and the general negative perception of the token. SHIB’s stagnation may be an early warning sign of future declines even as other market assets continue to exhibit signs of robust activity. In the current market climate, Shiba Inu might struggle unless there is a major catalyst to drive demand or if major investors show renewed interest.

The question will be whether SHIB can turn around these difficult times and become a major player in the meme coin market once again or if whales will lose interest in it. Based on the available data, it looks like there could be more declines in the future if the pattern of low transaction volumes continues.

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