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 shows promising signs, with 47 large transactions recorded in the last 24 hours, indicating increased activity among major holders.
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Despite the bullish signals, the situation for Bitcoin may worsen
SHIB
The significant volume of transactions, amounting to nearly 948 billion in a day, marks a sharp increase. This comes after the seven-day peak of 6.24 trillion SHIB on June 24, suggesting that large holders may be adjusting their positions.
Despite this sudden surge in activity, the price of SHIB remains relatively unchanged, hovering around $0.000017.
Market sentiment towards SHIB is mixed. Indicators show a nearly balanced struggle between buyers and sellers, with a slight advantage for the bears. This indicates that the market remains cautious about the short-term performance of SHIB, and a significant change in the direction towards purchases is unlikely in the near future.
