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- Shiba Inu’s large transaction volumes surged 41%, signaling renewed whale activity that could lead to price recovery.
- Despite rising whale interest, retail participation has dropped significantly, reflecting caution and mixed market sentiment.
Looking to the recent data from IntoTheBlock shows a 41.39% surge in Shiba Inu’s large transaction volumes, totaling 2.79 trillion SHIB ($76.48 million). This spike follows a sharp decline earlier in December, when volumes dropped from 18.85 trillion SHIB to just 1.9 trillion SHIB.
Increased whale activity suggests potential accumulation or redistribution, which may impact SHIB’s price movement. A recent CNF update highlighted that 1.67 trillion SHIB was scooped up, predicting a potential 45% rally. During this development, Whale Alert announced:
The new Whale Alert website, packed with (custom) alerts and on-chain analytics, is now officially live! Never miss an alert again and enhance your strategies with metrics for over 100 assets.
Mixed Signals from Market Indicators
Shiba Inu’s price holds steady around $0.00002759, maintaining support above the 50-day moving average, signaling stability. However, the Bollinger Band Percentage (BBP) indicates a slight bearish trend, hinting at ongoing consolidation.
Meanwhile, daily transaction volumes have declined, reflecting caution among retail investors despite rising whale activity.
Declining Retail Participation
Daily active addresses for SHIB have dropped significantly, from over 18,000 in November to just 2,500 now. This decline contrasts with the surge in large transactions, highlighting reduced engagement from smaller holders.
Traders are advised to monitor whale activity closely, as further accumulation could drive a price recovery in the near future. As of now, according to CoinMarketCap data, Shiba Inu (SHIB) is trading at $0.00002727, with an increase of 2.15% in the past day and 3.83% over the past week.
