Shiba Inu Worrying trends behind (SHIB) have begun to emerge, and key metrics indicating whales’ activity have decreased dramatically.
According to data from IntoTheBlock, the popular meme coin’s major trading volume dropped 42.86% to 3.56 trillion SHIB in the last 24 hours. In monetary terms, this decrease manifested itself as transactions with a minimum size of $100,000 decreased from $162.45 million to $91.87 million. A total of 201 such transactions took place during the period under review.
The significant decline in activity of Shiba Inu whales is reflected in a decrease in inflows and outflows to wallets that hold at least 0.1% of the circulating supply of the meme coin. Therefore, according to the Large Holders Inflow indicator, inflows into wallets of this size decreased sevenfold overnight, reaching only 501.2 billion SHIB.
As for outflows, the picture is similar, with figures falling to SHIB 499.54 billion, 86% lower than the previous day.
Shiba Inu (SHIB) Price Outlook
The decline in activity of major SHIB players occurred amid the second-largest meme coin’s most uninspiring price action. Thus, the price of the Shiba Inu has clearly recorded the fourth lowest level on the daily chart, after an almost 400% price increase in March.
The decline in whale activity further reinforces this situation, considering that the actions of whales are decisive in this liquidity cycle and trend changes.
