Whale Activity Sparks Concern Over Shiba Inu (SHIB) Market Dynamics

Shiba Inu (SHIB) whale activity spiked dramatically in the last 24 hours, with 2.83 trillion tokens flowing out. The shift in behavior highlights growing caution

Close monitoring reveals a dramatic surge in Shiba Inu (SHIB) whale activity over the last 24 hours, with a net outflow of 2.83 trillion tokens. This shift in behavior highlights growing caution among major holders as the market awaits clearer signals on the token’s next move.

Throughout the past day, a concerning trend has emerged in the actions of large-scale investors towards the meme-based cryptocurrency Shiba Inu (SHIB).

According to data from IntoTheBlock, Shiba Inu’s net token flow has turned negative over the last day, indicating a shift in behavior among major holders. Commencing the day with a net inflow of 361.3 billion tokens, the metric showcases a shift towards outflows, highlighting a net outflow of 155.45 billion SHIB tokens.

Net outflows from major investors surged by 117%, reaching 2.83 trillion SHIB during the study period. However, the amount of money flowing in also increased, rising by 77.48% to reach 2.68 trillion SHIB for the day. It is important to note that the metrics are only calculated for addresses that possess a minimum of 0.1% of the total circulating supply of Shiba Inu coins.

Based on the figures, it appears that most big players are either selling their SHIB tokens or at least some of the biggest holders are doing just that.

SHIB Price Reflects Volatility Amid Whale Sell-Offs

Including both the highs and lows of the month, the Shiba Inu token’s price has undergone a range of almost 86% from the beginning of November, a 41% increase.

Taking this stance into consideration, the current actions of the whales suggest that they are not very enthusiastic about purchasing the coin. But that doesn't mean the selling trend isn't robust either.

Perhaps we should hold off on making any firm moves until we see what happens to the price of the popular meme cryptocurrency. We will observe their actions regarding the token when its price reaches a threshold that allows large capital to make informed investment decisions.