Crypto whales are losing interest in Shiba Inu — the number of large transactions has decreased by 79%
Popular crypto analyst Ali Martinez noted that over the past three months, the number of large transactions with Shiba Inu has decreased by an impressive 79%. This significant decline in the number of transactions over $1 million has led to a drop in the value of the meme coin.
According to Coinglass chart data, SHIB has experienced several outflows in recent months. The largest of these, exceeding $50 million, occurred in November 2024, after which the value of the meme coin sharply fell.
In early December 2024, the price of SHIB reached its peak and then began a prolonged decline. The decrease in activity among large investors indicates that confidence among them is waning, which often leads to reduced liquidity and increased volatility.
The decrease in the number of costly transactions also indicates that institutional investors are selling their assets or reducing investments in Shiba Inu.
Currently, the meme coin is trading at $0.00001523, down 2.48% in the last day and 9.58% over the past week. Despite the ongoing downward trend, Shiba Inu remains an actively traded asset with a market capitalization of $8.97 billion and a daily trading volume of $229.2 million.
