Here’s What The Shiba Inu Large Transaction Volume Says About The SHIB Price
The post Here’s What The Shiba Inu Large Transaction Volume Says About The SHIB Price appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Shiba Inu’s price action in the past seven days has been marked by a decline from $0.00001514, struggling to keep up an upward momentum. After briefly touching $0.00001514 on April 26 following Bitcoin’s rally, SHIB has since pulled back and is currently hovering near $0.0000132. This decline reflects a broader hesitation among Shiba Inu traders in the past week, even as Bitcoin, the market leader, looks poised to break above $95,000. As the Shiba Inu price continues to move with a lacklustre movement, recent on-chain data reveals a notable trend in whale activity that could be influencing this movement. Large Transaction Volume Slumps To Lowest In Seven Days According to on-chain analytics platform IntoTheBlock, Shiba Inu’s large transaction volume has dropped to its lowest point in the past week. This data is revealed through IntoTheBlock’s Large Transactions Volume metric, which tracks the number and volume of large transactions within a 24-hour period. According to this data metric, the volume of large Shiba Inu transactions comes up to just 1.79 trillion SHIB tokens in the last 24 hours, with just 34 transactions. In terms of valuation, this volume comes up to $23.66 million. Importantly, the low large SHIB transactions in the past 24 hours are not an isolated event. The broader trend over the past week shows consistently subdued whale activity. The most active day in the last seven-day period was on April 25, when 109 large transactions pushed the volume up to 2.93 trillion SHIB tokens, worth about $41.41 million. Even then, the volume was below $50 million. Since then, activity has steadily declined, with no single day crossing the $50 million mark. Low SHIB Whale Activity: Price Exhaustion Or Calm Before A Move Large transactions, typically…
Filed under: News - @ May 2, 2025 5:27 am