Shiba

when

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Something worrying started to show up in the data behind the scenes of&nbsp;<a href="https://u.today/fundamental-bone-statement-issued-by-shib-team" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a>. The values of key metrics showing the activity of the big players, or whales as they are known in the crypto space, dropped dramatically.
According to on-chain data from <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" rel="noopener noreferrer nofollow">IntoTheBlock</a>, the volume of large transactions of the popular meme cryptocurrency fell 57.73% to 1.12 trillion SHIB over the past 24 hours. In dollar terms, this meant a drop in transactions of at least $100,000 from $35.9 million to $14.8 million. In total, there were 48 such transactions over the period we are looking at.
There was also a drop in activity from whales holding at least 0.1% of SHIB, as shown by a decrease in outflows and inflows to their wallets. According to the Large Holders Inflow indicator, inflows to these big wallets dropped 61.7% overnight, reaching a value of only 295.42 billion SHIB. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="6d9bc785-ff08-4c5d-9552-c46dd60bd6c3" src="https://u.today/sites/default/files/inline-images/shiba_18.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" rel="noopener noreferrer nofollow">IntoTheBlock</a>
Outflows were down too. The figure fell to 300.38 billion SHIB, which is 45.47% lower than the day before.
<h2 dir="ltr" id="shiba-inu-shib-price-eyes-major-uncertainty">Shiba Inu (SHIB) price eyes major uncertainty</h2>
The drop in activity of major SHIB players happened at a time when the second largest meme cryptocurrency was not seeing much movement in its price. The&nbsp;<a href="https://u.today/shiba-inu-skyrockets-285-in-netflows-as-whales-commit-to-shib-price-surge" rel="noopener noreferrer nofollow">Shiba Inu</a> token's price has been stuck in a tight range in September.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="502b1e98-3b62-42a7-8755-af81cbeb972e" src="https://u.today/sites/default/files/inline-images/hsibainuuprice.png">SHIB to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
The only time the&nbsp;<a href="https://u.today/shiba-inu-shib-introduces-new-portal-to-empower-developers" rel="noopener noreferrer nofollow">SHIB</a> price broke out of the range was on Wednesday, when the general crypto market bounced back from its August lows.
With whale activity down, it is even clearer that they play a big role in this cycle of liquidity and trend shifts.

Shiba Inu (SHIB) Whales Disappear

Table of Contents

U_Today

Other articles published on Sep 6, 2024

Avalanche Foundation Announces infraBUIDL() Program to Boost Blockchain Tooling and Infrastructure

Elon Musk and Tesla Win Legal Battle as Dogecoin Lawsuit is Thrown Out

Bitcoin (BTC) Suddenly Turns Green. This Is Key Reason Why

US companies forecast to buy $10.3B in Bitcoin over next 18 months — Report

Floki's Valhalla Partners with OG Esports as Official Jersey Sleeve Sponsor

Investors Focus on DeFi Ecosystem to Identify Leading Token

Join our free newsletter for daily crypto updates!