"Is Shiba Inu at Risk? Declining Whale Transactions Signal Trouble for Crypto Enthusiasts"
Shiba Inu in Danger? The Decline in Whale Transactions Worsens
Source: Cointribune
Current Performance of Shiba Inu (SHIB)
Lackluster Progress
- Recent Increase: SHIB has recorded a 4% increase over the past month.
- Investor Concerns: Slow progress is demoralizing for investors, especially given the decline in whale activity.
Decline in Whale Transactions
Significant Decrease
- Whale transactions dropped from a peak of 4 trillion SHIB to just 500 billion SHIB in a week.
- Transaction volume fell from 8.27 trillion SHIB on October 1 to 1.6 trillion recently.
- Average large transactions dropped to 88 per day from 383 at the peak of the week.
Market Implications
- Without whale support, SHIB faces volatility, particularly from smaller investors.
- The active SHIB community may help mitigate the lack of whale activity.
Regulatory Challenges
Impact on Whale Activity
- Increased regulatory scrutiny is causing whales to hold back on large transactions.
- If uncertainty in the regulatory landscape continues, SHIB might be trapped in a limited price range.
Future Outlook
Market Sentiment
- The performance of SHIB is highly dependent on a potential return of whales and an overall rebound in the crypto market.
- Recent failed attempts to break resistance levels indicate gloomy market sentiment.
Conclusion
- Shiba Inu has a challenging path ahead to regain its status, with the return of whale investors being crucial for its recovery.
- Ongoing competition from other cryptocurrencies remains a concern for SHIB's future viability.
