2024-02-24
News Tobtc News

Shiba Inu (SHIB) Whales Disappear

The Shiba Inu (SHIB) landscape is undergoing a notable transformation as large holders and traders of SHIB scale back their involvement, marking an 85.2% decline in substantial transactions within three days since Wednesday. Data from IntoTheBlock indicates that the volume of significant SHIB transactions dropped to 361.33 billion tokens over the last 24 hours, equivalent to $3.31 million. This decline specifically encompasses transactions exceeding $100,000 in Shiba Inu tokens, with only 10 such transactions recorded within the specified time frame.

The implications of this development are dual. Firstly, the diminishing presence of SHIB whales indicates a noteworthy reduction in their activity, approaching near-extinction levels. Secondly, the void left by the whales raises the prospect of an imminent surge in on-chain activity, potentially paving the way for a significant shift in the dynamics of the popular token.

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