Shiba Inu ($SHIB ) has seen a significant 1.99 trillion SHIB transacted in large volume over the past 24 hours, according to data from IntoTheBlock. However, this massive number is overshadowed by a notable 35.41% decline in whale activity compared to previous sessions. This drop indicates that $SHIB whales—or those making transactions valued at $100,000 or more—are holding back, likely awaiting clearer market signals.
Despite nearly two trillion $SHIB moving through large transactions in a single day, the overall reduction suggests that major holders are staying put. This cooling off could be attributed to a broader market hesitation, especially with recent selling pressure ahead of today’s Federal Reserve announcement. Whales appear to be adopting a cautious stance, refraining from making significant moves as they assess the evolving market conditions.
Shiba Inu saw a rise in value over the weekend, climbing for three consecutive days and reaching a peak of $0.00001884 on October 6. However, profit-taking has since set in, with the coin down 1.75% in the last 24 hours, currently priced at $0.00001718. If today ends in the red, this will mark the third consecutive day of losses since Sunday’s high.
The recent dip in whale activity could reflect the uncertain sentiment across the broader crypto market, as many await the next big move.
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