- SHIB is getting close to settling on its short-moving average.
- Whale transactions have fluctuated as its price struggles.
As a seasoned crypto investor with battle scars from the 2017 bull run and subsequent bear market, I find myself intrigued by the recent movements of Shiba Inu (SHIB). The surge in whale activity coupled with the steady price performance is a fascinating dynamic that warrants careful observation.
Based on data from IntoTheBlock, it appears that Shiba Inu has seen considerable changes in its large transaction volumes during the last few weeks. A surge in whale activity might be an indication of a possible change in market opinion as Shiba Inu gathers strength.
Shiba Inu whale activity and transaction volume surge
Recently, the number of significant transactions involving Shiba Inu coin has seen a notable increase by approximately 41.39%. This surge represents around 2.79 trillion SHIB tokens, which carry an estimated value of about $76.48 million.
After observing a significant dip that started around the 10th of December, where the Shiba Inu (SHIB) volume plummeted from approximately 18.85 trillion down to only 1.9 trillion by the 13th, I’ve noticed an uptick in activity since then.
Following a phase of decreased activity, the rise in whale-related transactions suggests a resurgence of significant investors’ interest. Usually, surges in whale action indicate strategic decisions, including buying more (accumulation) or rearranging their holdings (redistribution). These actions could potentially impact price trends in the coming days.
SHIB holds steady amid volume fluctuations
Currently, Shiba Inu’s value hovers around approximately 0.00002759 USD, showing a remarkable ability to withstand fluctuations in the market. Looking at the price graph, it appears that Shiba Inu has consistently held above its 50-day moving average, suggesting a level of stability.
However, the Bollinger Band Percentage (BBP) highlights a slight bearish signal as momentum slows, suggesting consolidation could persist.
Data from Santiment indicates that volume has been decreasing in recent times, dropping below 1 billion SHIB per day after reaching a higher point earlier this month.
During periods when large traders, known as “whales,” increase their trading activities, it’s common to see lower trade volumes. This reduction in activity can be due to apprehension among smaller investors, who are waiting to confirm the broader direction of the market trends before making their own moves.
Daily active addresses show mixed trends
The number of daily active users for Shiba Inu also reflects its transaction volume. It reached a high of around 18,000 users back in early November, but since then, this figure has dropped steadily and is currently hovering around 2,500 active users.
As a seasoned investor with years of experience under my belt, I’ve noticed a trend that seems to be worth sharing: despite a surge in large transactions, there appears to be a drop in participation among smaller investors. This observation is based on my own observations and interactions within the financial community. It’s not uncommon for big players to dominate the market, but it’s concerning when the smaller holders are less involved. This could potentially lead to an imbalance, as these smaller players often bring diversity and resilience to the market. I’ve seen similar situations in the past where a lack of participation from smaller investors eventually led to instability. It’s crucial to keep an eye on this trend and consider its potential impact on the overall health of the market.
Shiba Inu whale moves and sentiment
As a crypto investor, I’ve noticed an uptick in large transactions related to Shiba Inu, which seems to imply that big players are keeping a close eye on its price fluctuations. Despite the coin’s steady price and technical support, the decreasing transaction volume and activity at addresses suggest a more cautious approach among retail investors.
As an analyst, I would advise keeping a keen eye on potential price breakouts and any signs of increased whale activity regarding Shiba Inu (SHIB). These factors could significantly influence SHIB’s short-term trajectory.
Should major investors persistently acquire more, it could potentially lead to a price increase in the upcoming weeks.
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2024-12-16 15:03