CandleFocus 1.99 Trillion SHIB in 24 Hours — Why Are Shiba Inu Whales Staying Put?
2024-10-09
Author: Content Editor
Recent data from IntoTheBlock shows that the dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a significant drop of 35.41% in large transaction volume over the past 24 hours. This suggests that activity from SHIB whales or large holders is relatively low. Large transaction volume is a metric that tracks transactions valued at $100,000 or more and serves as an indicator of whale activity in the market. In the past day, the large transaction volume for SHIB amounted to $34.25 million or 1.99 trillion SHIB. Despite the eye-catching volume, the decline in activity indicates a cooling in whale activity, potentially because large holders are waiting on the sidelines or opting for smaller moves. The decline may be attributed to factors such as a sell-off at the start of the week and market uncertainty leading up to the release by the Federal Reserve. Overall, this suggests a shift in behavior among SHIB whales.
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