Over the past 24 hours, Shiba Inu (SHIB) has seen a significant decline in whale transactions, with less than one trillion SHIB being moved. This is a sharp drop from the recent peak of 3.22 trillion SHIB recorded on October 18, 2024. The decline in whale activity suggests reduced interest from major investors, which could potentially affect SHIB's price movement, currently hovering around $0.000018. The price is stabilizing, but testing key resistance levels, with market indicators showing a neutral sentiment.
The short-term outlook for SHIB is uncertain due to the decline in large transactions. Whale activity has traditionally been a key factor in driving price movements for SHIB, and the reduction in volume suggests that momentum is slowing. If major players continue to reduce their exposure, SHIB may experience further stagnation or even a price decline. However, a surge in whale interest could reignite momentum and lead to an upswing.
For now, SHIB’s immediate future remains unclear. The current market sentiment reflects caution, with the possibility of additional downward pressure if whale activity remains low. On the other hand, if SHIB manages to hold its current price and attract new whale investors, it may signal a potential reversal and renewed growth for the cryptocurrency
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