Shiba Inu (SHIB) hasn’t been doing great lately. After a brief peak around $0.00001514 on April 26th, its price has dropped to around $0.0000132. This is happening even though Bitcoin, the big dog of crypto, is looking strong.
Whale Activity Slows Down
So, what’s the deal? Data shows that big players (whales) in the SHIB market are being unusually quiet. Large transaction volume – think transfers of $100,000 or more – is at a seven-day low.
Only about 1.79 trillion SHIB tokens ($23.66 million) changed hands in large transactions over the past 24 hours. That’s a far cry from the 109 large transactions totaling 2.93 trillion SHIB ($41.41 million) on April 25th, which was already a relatively low day. And it’s a tiny fraction of the massive 34.42 trillion SHIB ($751.22 million) seen back on January 7th.
What Does This Mean?
This low activity suggests that big SHIB holders aren’t making major moves right now, whether they’re buying or selling. They might be waiting to see which way the price is going before committing to anything big.
Future Predictions
While the current situation looks somewhat stagnant, it’s worth noting that some analysts are predicting a huge price jump for SHIB – as much as 1,479%, reaching $0.000220. Whether that happens remains to be seen. For now, the lack of whale activity is a key factor to watch in understanding SHIB’s current price movement.