Shiba Inu (SHIB), one of the leading meme cryptocurrencies, has seen an alarming decline in large-scale transaction activity, raising red flags among its community and signaling potential hesitation from institutional players amid ongoing market volatility.
SHIB Large Transactions Fall 88% in 24 Hours
According to data from IntoTheBlock, Shiba Inu’s large transaction volume, defined as transfers exceeding $100,000, dropped a staggering 88.09% on June 18, plummeting from $196.15 million recorded on June 16 to just $23.36 million. This drop highlights an abrupt slowdown in whale and institutional trading activity.
The sudden decline comes as the broader crypto market continues to experience a sharp downturn, with major cryptocurrencies like Bitcoin and Ethereum seeing steep corrections. SHIB, like many altcoins, has not been immune to the negative sentiment rippling through the market.
What the Drop Means for SHIB Investors
While large investors often accumulate tokens during dips, the stark drop in whale activity suggests a decline in buying interest or a pause in accumulation. With reduced high-value movements, the Shiba Inu ecosystem is reflecting a cooling investor sentiment, despite the coin’s stable price action over the past 24 hours.
This drop in large transactions may also point to a wait-and-see approach from key players, as uncertainty continues to hover over the crypto market following intensified sell-offs and geopolitical instability.
Despite this bearish indicator, SHIB’s price has held relatively steady, up 0.75% in the last 24 hours, trading at $0.00001170 as per CoinMarketCap. The lack of price reaction may either suggest consolidation before a breakout or simply reflect reduced trading volume across the board.
Market Outlook: Bearish Caution or Calm Before a Breakout?
Shiba Inu reached recent highs earlier this month, but the 90% drop in whale transactions over two days now paints a more cautious picture. Analysts note that this bearish divergence between stable price action and declining on-chain metrics may indicate a pause in momentum, if not a potential upcoming dip.
SHIB holders and market watchers will be paying close attention to whether this downtrend continues or rebounds alongside Bitcoin’s next major move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
