Shiba

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Recent on-chain metrics for <a href="https://u.today/shiba-inu-shib-key-dates-are-may-11-and-12-heres-why" rel="noopener noreferrer nofollow">Shiba Inu</a> paint a strong shift on the market landscape, with a 15% decrease in large transactions. This change has significant implications for the token’s market dynamics and potentially its price trajectory in the near <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">future</a>.
This metric, showing a slight 0.32% increase, indicates a marginal rise in the number of new addresses being created on the <a href="https://u.today/shib-burns-skyrocket-5803-with-264-million-shiba-inu-ablaze" rel="noopener noreferrer nofollow">SHIB</a> network. While this is generally a bullish signal suggesting growing interest or new entrants on the market, the minimal increase reflects limited fresh momentum. <img alt="SHIBUSDT" data-entity-type="file" data-entity-uuid="21646676-de4e-46a2-8bc0-955f9c2797fb" src="https://u.today/sites/default/files/inline-images/image_772.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SHIB/USDT Chart by TradingView</a>
The "In the Money" metric, displaying a neutral 0.30%, represents addresses that are currently profitable based on the purchasing price of SHIB. This neutrality signifies a balance between bullish and bearish sentiment among holders, potentially indicating a holding pattern among investors.
A slight 0.04% increase in concentration suggests a minor rise in the token holdings of the top SHIB addresses. This could be viewed as a subtle bullish signal, implying that some larger holders are possibly increasing their stakes, or fewer addresses are accumulating more <a href="https://u.today/bitcoin-btc-on-verge-of-losing-60000-is-shiba-inu-shib-ready-for-it-solana-sol-forms-reversal" rel="noopener noreferrer nofollow">SHIB</a>.
The 15.66% drop in large transactions over $100,000 is particularly significant. This decrease often signals reduced activity from whales, who are typically capable of swaying the market with their large orders. This reduction could imply a lower confidence level among larger investors, or a shift in strategy toward smaller, less noticeable transactions.
Currently, SHIB is consolidating within a narrowing price range, hinting at an impending volatility spike. The decrease in whale transactions could reduce significant sell-offs or buys, potentially stabilizing the price temporarily. However, the consolidation phase suggests that a breakout could be incoming. The direction of this breakout will likely depend on the rest of the market, rather than SHIB specifically, so we will have to wait and see.&nbsp;

Shiba Inu Whales Disappearing? SHIB Large Transactions Plummet

U_Today

2024년 5월 10일에 게재된 다른 기사

God of War Ragnarok PC Port Announcement Expected in May 2024

Ripple v. SEC case update as of May 10, 2024

Magic Eden NFT marketplace surpasses Blur in trading volume

Pepe Keeps Trending and Outpaces Altcoins Like Solana. Is Raboo Next To Lead the Crypto Trend?

Bitcoin Struggles to Secure $60K Backing As It Approaches a $100M Liquidity Region

Disappointment Clouds Friend Tech v2 Launch Despite Exciting New Features

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!