It appears that the activity of whales (large investors) in Shiba Inu (SHIB) is recovering after a period of decline and poor market performance of the token. On-chain data for SHIB show promising signs, with 47 large transactions recorded in the last 24 hours, indicating increased activity among major holders.
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Despite bullish signals, the situation for Bitcoin could get worse. SHIB is notable for a significant volume of transactions, amounting to nearly 948 billion in one day, marking a sharp increase. This follows the seven-day peak of 6.24 trillion SHIB on June 24, suggesting that large holders may be adjusting their positions.
Despite this sharp jump in activity, the price of SHIB remains relatively unchanged, fluctuating around $0.000017.
Market sentiments towards SHIB are mixed. Indicators show an almost balanced struggle between buyers and sellers, with a slight advantage to the bears. This indicates that the market remains cautious regarding the short-term performance of SHIB, and a significant change towards buying is unlikely in the near future.
