As someone who has been following and investing in cryptocurrencies for quite some time now, I must admit that the current state of Shiba Inu (SHIB) is causing me some concern. The drop in whale transactions over the past 24 hours is not just a blip on the radar; it’s a clear signal that major investors are losing interest in SHIB.
Due to a significant drop in whale transaction volumes, Shiba Inu is experiencing one of its toughest periods at the moment. Over the last 24 hours, there’s been a noticeable decrease from previous activity levels, with only 16 large transactions amounting to just 392.05 billion SHIB being registered.
As a seasoned investor with over two decades of experience in the cryptocurrency market, I have seen many instances where sudden drops in price can be telling signs of significant shifts in the market. The recent decline in Shiba Inu (SHIB) has caught my attention due to its correlation with the decreasing activity of major investors, often referred to as “whales.”
Regarding the token, the absence of activity is worrying as it seems significant investments in the meme coin market are no longer considered appealing for SHIB. A detailed analysis of the Global In/Out of Money indicator reveals that currently, 45.46% of SHIB holders are making a profit while 52.79% are not. The fact that many investors are facing losses at the current price, hovering around $0.000013, increases doubts about SHIB’s potential success.
The concern about SHIB‘s long-term viability stems from insufficient whale involvement and a predominantly unfavorable view of the token. SHIB’s slow growth could be an indication of potential future drops, especially as other market assets flourish. In the present market situation, Shiba Inu might face difficulties unless there is a significant event to boost demand or if major investors express renewed enthusiasm.
Can Shiba Inu regain its prominence in the meme coin market after these challenging periods, or will large investors grow disinterested? Given current trends, it seems likely that further drops may occur if the trend of minimal trading activity persists.
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2024-08-18 13:34