Shiba Inu Whales Pull Back as Large Transactions Plummet
Things aren’t looking great for Shiba Inu (SHIB) right now—at least not behind the scenes. Data from IntoTheBlock shows an 88.09% drop in large transaction volume over the last 24 hours, sinking to just $23.36 million. That’s a steep fall from the $196.15 million recorded just two days ago on June 16.
It’s not entirely surprising, given how rough the broader crypto market has been lately. Bitcoin and other major coins have been bleeding, and SHIB, like everything else, is caught in the storm. But this drop in whale activity—those big investors moving at least $100,000 worth of tokens—hints at something more than just market-wide jitters.
Whales Aren’t Biting
Normally, you’d expect whales to scoop up more tokens when prices dip. That’s what they’ve done in the past. But this time? Not so much. The sharp decline in large transactions suggests even the big players are hesitating. Maybe they’re waiting for clearer signs of a rebound, or maybe they’re just as spooked as everyone else.
It’s hard to say for sure, but the numbers don’t lie. When whales slow down, it usually means confidence is wavering. And right now, SHIB’s on-chain activity paints a pretty cautious picture.
Price Holds Steady—For Now
Oddly enough, SHIB’s price hasn’t completely tanked despite the drop in whale movement. In fact, it’s up slightly—about 0.75% in the last day—hovering around $0.00001170. That’s… confusing, honestly. You’d think less big-money trading would drag the price down more, but the market works in weird ways sometimes.
Still, this tiny uptick doesn’t erase the bigger concern. If whales keep pulling back, it could signal deeper trouble ahead. SHIB holders are already wondering if the token can bounce back after this sell-off, or if the bearish mood is settling in for good.
What’s Next for SHIB?
The crypto market is unpredictable on a good day, and right now, it’s far from a good day. Bitcoin’s struggles are setting the tone, and meme coins like SHIB often feel the brunt of it. The fact that whales aren’t jumping in to buy the dip is telling.
Then again, crypto moves fast. Things could flip in a matter of hours if sentiment shifts. But for now, the lack of big transactions suggests a wait-and-see approach from the usual heavy hitters. Whether that’s a temporary pause or the start of a longer slump—well, we’ll just have to watch.
