Big players in the Shiba Inu world, known as whales, are stirring up the waters lately. These investors, who trade large amounts of the meme coin, have cranked up their activity. But there’s more to the story before Shiba fans get too excited. How these whales move their coins might trouble Shiba Inu’s price.
According to the crypto tracking website IntoTheBlock, Shiba Inu whale volumes have shot through the roof in the past week. These whales, who move $100,000 or more in a single trade, have been extra busy.
On Sunday, these big fish moved a whopping 1.62 trillion SHIB. That’s about $22.21 million at current prices. In perspective, it’s a 60% jump from Saturday when they moved 1.07 trillion SHIB (worth $14.94 million).
Source: IntoTheBlock
Whales Swim Away: Shiba Inu Faces Rough Seas Amid Massive Sell-Off
This surge in whale activity is happening even though Shiba Inu’s price remains in the doghouse. It shows that while smaller investors might be sitting on the sidelines, the big players are making moves.
More whale action can make big waves in the crypto ocean. But whether those waves lift or sink all boats depends on what the whales do. Are they buying more Shiba Inu, or are they cashing out?
This time, the signs point to rough seas ahead for Shiba Inu’s price.
IntoTheBlock’s data on large holder inflows and outflows tells an important story. Inflows show how much SHIB flows into whale wallets (buying), while outflows show how much is leaving (selling).
Source: IntoTheBlock
On Sunday, whales bought 240.85 billion SHIB. That sounds like a lot until you see that they sold 440.84 billion SHIB. In other words, they sell almost twice as much as they buy.
The total net flow was negative 199.99 billion SHIB. This means that more SHIB left whale wallets than entered them, indicating that these big investors are leaning towards selling rather than buying.
If this trend continues, it could further push Shiba Inu’s price down. The broader crypto market is already struggling, and this added pressure from whale selling isn’t helping Shiba’s cause.
For Shiba Inu holders and potential buyers, this whale watch reminds them of how quickly things can change in the crypto world. While increased whale activity can sometimes signal exciting times ahead, looking at the whole picture is essential. In this case, the whales seem to be swimming away from Shiba Inu, at least for now.
As always, it’s wise to keep a close eye on these trends in the crypto world and make informed decisions. The actions of these crypto whales could create waves that affect all Shiba Inu holders, big and small.
Source: SHIBUSDT on Tradingview.com
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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risk.
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