The recent on-chain data shows a decline in whale activity for Shiba Inu, with a significant decrease in large transactions. This decline in whale transactions worsens the overall negative outlook on SHIB, as only 49% of holders are currently profitable. On-chain signals also indicate bearish conditions. Market challenges are further highlighted by negative factors such as net network growth and the number of holders in the money. However, there has been a slight increase in large transactions, suggesting that some whales still hold onto SHIB. The price of SHIB has almost lost all of its September gains and is struggling to reverse its decline.



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