According to U.Today, the Shiba Inu token (SHIB) has experienced a significant decrease in the activity of its major players, often referred to as 'whales' in the cryptocurrency world. Key metrics reveal a substantial drop in the volume of large transactions of the popular meme cryptocurrency. Over the past 24 hours, the volume of these transactions fell by 42.86% to 3.56 trillion SHIB. This decline translates to a drop in transactions of a minimum size of $100,000 from $162.45 million to $91.87 million. During this period, there were 201 such transactions.
The decrease in the activity of Shiba Inu whales is also reflected in the reduction of inflows and outflows to wallets that hold at least 0.1% of the circulating supply of the meme cryptocurrency. According to the Large Holders Inflow indicator, inflows to wallets of this scale decreased seven times overnight, reaching a value of only 501.2 billion SHIB. Similarly, outflows fell to 499.54 billion SHIB, marking an 86% decrease from the previous day.
This drop in the activity of major SHIB players coincides with a less than inspiring price action of the second largest meme cryptocurrency. The price of the Shiba Inu token has printed the fourth lower high on the daily chart following the March price pump of almost 400%. This trend does not suggest a repeat of the successes of a month ago in the near future, at least until the price of the Shiba Inu token surpasses not only the March high but also the previous one, which was in early April. The decline in whale activity further supports this outlook, given that their actions play a crucial role in this cycle of liquidity and trend shifts.