Whale Transactions Skyrocketed in the Shiba Inu Network: How Did the Price React?

Shiba Inu An increase in large transactions carried out in the token attracted attention. On September 22, the total volume of these large transactions reached $38 million. A similar increase was observed on September 11, and the volume of large transactions reached the same level of 38 million dollars. Today, the number of such transactions reached 39, exceeding even the seven-day average.

According to the latest data, Shiba Inu is currently trading at $0.00000724. Although the price may seem small, the increase in large transactions shows that something is brewing in the SHIB ecosystem.

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Large transactions, called whale activity, can often significantly impact an asset’s price and volatility. Whales are often large asset holders who can buy and sell large amounts of assets at will, essentially setting market trends. The recent increase in large transactions, potential price volatility and even SHIB It could mean a new direction for its price.

The increased activity of whales has not brought any positivity to the Shiba Inu market. The latest price performance points to a potential acceleration of SHIB’s downtrend, as the token has broken below the local trend line support level, resulting in meme coin It is paving the way for a new local low near $0.000007.

However, it is very important to approach this information carefully. Although large transactions indicate a bullish or bearish trend, they are not a guaranteed harbinger of future price movements.

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