What the Shiba Inu Large Transaction Volume Says About SHIB Price

In the previous week, Shiba Inu's price has fallen from $0.00001514, battling to rise. After Bitcoin's rise on April 26, SHIB briefly touched $0.00001514 before pulling down to $0.0000132. This fall mirrors Shiba Inu dealers' general hesitancy in the previous week, as Bitcoin, the market leader, approaches $95,000.

Large Transaction Volume Drops To Seven-Day Low
On-chain analytics tool IntoTheBlock reports Shiba Inu's huge transaction volume at its lowest in a week. In IntoTheBlock's Large Transactions amount measure, the number and amount of large transactions each day are shown.

This data measure shows 34 major Shiba Inu transactions in 24 hours, totaling 1.79 trillion SHIB tokens. This book is worth $23.66 million.

Importantly, the last 24 hours' low significant SHIB trades are not isolated. The last week has seen continuously low whale activity. April 25 was the most busy day in the past week, with 109 major transactions totaling 2.93 trillion SHIB tokens, worth $41.41 million. Volume was around $50 million even then. Daily activity has dropped after then, with no day exceeding $50 million.

SHIB Whale Activity: Price Exhaustion or Calm Before Move?
Understanding institutional or whale behavior around a cryptocurrency is helped by large transactions, usually above $100,000. Thus, the present Shiba Inu high transaction volumes indicate that significant holders are less inclined to accumulate or distribute.

To understand the slowdown, compare it to earlier activity spikes. Shiba Inu's massive transaction volume reached 34.42 trillion SHIB tokens, worth $751.22 million, on January 7. This spike contrasts with today's 1.79 trillion SHIB ($23.66 million) activity, showing the huge disparity in market mood and involvement.

The present figures also show that substantial Shiba Inu holders may be delaying major changes until the price trend is apparent.

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