Shiba

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/significant-shifts-in-shiba-inus-market-transactions/" data-wpel-link="internal">Significant Shifts in Shiba Inu’s Market Transactions</a><br></p>
<p style="text-align: justify">Recent on-chain metrics indicate a notable 15% decrease in <a href="https://en.coin-turk.com/shiba-inus-burn-rate-increases-by-7-6-million-in-24-hours/" data-wpel-link="internal">Shiba</a> Inu’s large transactions, potentially impacting the token’s <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> dynamics and its near-future <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> trajectory. Today, the price of Shiba Inu has increased by 4%, trading at $0.0000235.</p> 
<h2 style="text-align: justify" id="shib-whales-disappear">SHIB Whales Disappear</h2> 
<p style="text-align: justify">A slight increase of 0.32% in this metric shows a small rise in the number of new addresses created on the SHIB network. However, this increase seems to reflect a limited momentum boost and could generally indicate a growing interest. Yet, it has a limited effect in creating new momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-349977 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/shiba-1.png" alt="" width="1537" height="595"></p> 
<p style="text-align: justify">The “in the money” metric displays a neutrality rate of 0.30%, representing addresses that are currently profitable compared to SHIB’s purchase price. This neutrality should be considered as it shows a balance between bullish and bearish tendencies among <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>, potentially indicating a holding pattern.</p> 
<p style="text-align: justify">A slight increase of 0.04% in density suggests a small increase in token assets among top SHIB addresses. This could be interpreted as a subtle bullish signal, implying that some major holders might be increasing their stakes or fewer addresses are accumulating more SHIB.</p> 
<h2 style="text-align: justify" id="decline-in-transactions-over-100-000">Decline in Transactions Over $100,000</h2> 
<p style="text-align: justify">Particularly significant is the 15.66% decrease in large transactions over $100,000. This decline indicates a reduction in activities by market-influencing whales, pointing to a lower confidence level among larger investors or a shift towards less conspicuous transactions.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-349989 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/shiba-2.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">Currently, SHIB is consolidating within a narrowing price range, signaling an impending increase in volatility. The decrease in whale transactions could temporarily stabilize the price, but the consolidation phase suggests a potential breakout. The direction of this breakout will likely depend more on the broader market than on SHIB, the world’s second meme coin. Therefore, it remains beneficial to closely monitor this metric.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/significant-shifts-in-shiba-inus-market-transactions/" data-wpel-link="internal">Significant Shifts in Shiba Inu’s Market Transactions</a></h5>

Significant Shifts in Shiba Inu’s Market Transactions

Table of Contents

COINTURK NEWS

Other articles published on May 10, 2024

Shocking Revelations About BlockDAG’s Latest Roadmap & X1 App; More on Ethereum Price & Toncoin P...

Top Crypto To Buy Before Next Bull Run

Jack Dorsey Predicts Bitcoin to Reach At Least $1 Million by 2030

Experience the Future of Liquid Staking: Kintsu Testnet Launches Exclusively on May 13th (10 May)

$1.4 Billion in Bitcoin on the Move: How Much Did It Cost to Transfer 22,329 BTC?

Altcoins Recovery Soon? Analyst Predicts Altcoins Will Bottom Shortly

Join our free newsletter for daily crypto updates!