Shiba Inu whales are once again showing high activity after the weak price performance
Whale activity (big investors) in Shiba Inu (SHIB) appears to be recovering after a period of decline and poor market performance for the token.
Onchain data for shib are showing promising signs, with 24 large transactions recorded in the last 47 hours, indicating increased activity among major holders.
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Things could be getting worse for Bitcoin despite the bullish signalsshib noted significant transaction volume, amounting to almost 948 billion in one day, which marks a sharp increase. This comes after a seven-day peak of 6.24 trillion SHIB on June 24, suggesting that large holders may be adjusting their positions.
Despite this sharp spike in activity, SHIB's price remains relatively flat, hovering around $0.000017.
Market attitudes towards SHIB are mixed. The indicators show an almost balanced fight between buyers and sellers, with a slight advantage for the bears. This indicates that the market remains cautious about SHIB's near-term performance and a significant shift towards buying is unlikely in the near term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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