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Shiba Inu (SHIB) Whales Disappear
According to recent data, the whales of Shiba Inu (SHIB) have significantly reduced their activity in the market. The data reveals that between 2.97 trillion SHIB, or $572 million, and 3.69 trillion SHIB, or $88.7 million, there has been a massive drop in volume traded by these large-scale holders.
The statistics show an average decrease of approximately 85.8%. This drastic change could potentially affect the overall market sentiment for meme-inspired cryptocurrencies.
It is essential to note that these whales, once known for their significant influence on the SHIB price action, have seemingly disappeared from the market. The last update suggests that one whale transferred around 400 billion SHIB, or $624.98 million, before vanishing into thin air.
The reduced activity by these major players has taken volume away from SHIB trading and led to a significant decrease in overall engagement with the asset. Consequently, this change could cause further volatility and potentially impact the market’s expectations about the direction of the SHIB price.
However, it is crucial for investors to remember that such massive changes can be short-lived, and the whales may return with renewed volume as soon as they see an opportunity to make a profit.
The decrease in whale activity has left some questioning whether this shift could have any lasting impact on the overall market sentiment.
Source: u.today
