The activity of SHIB whales plummets by 65%
According to data from the blockchain analysis platform IntoTheBlock, Shiba Inu (SHIB) whales are showing signs of withdrawal and report a massive 65% drop in the large volume of SHIB transactions in just 24 hours.
Wallets with at least $100,000 in SHIB tokens have experienced a significant reduction in their activity, highlighting the decrease in interest among large holders. This sharp decline underscores the lack of resilience among investors amid the widespread market crisis.
Last week, on June 6, the large volume of SHIB transactions reached an impressive peak of 17.63 trillion SHIB. However, since then, this figure has plummeted to just 948.590 billion SHIB in the last day. The data suggests that whales are liquidating their SHIB holdings.
This could negatively influence the price of SHIB, potentially leading to the continuation of the downturn. However, if whale activity turns positive with a higher burn rate, investors could see upside potential.
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