Something strange is going on behind the scenes of Shiba Inu (SHIB) as the big players, or to put it more colloquially — the whales — have been less active, and the numbers tell a clear story.
On-chain data from IntoTheBlock shows a sharp decline in large transactions. The past 24 hours saw a 55.63% drop in transactions worth at least $100,000. That’s 1.93 trillion SHIB changing hands, down from 4.35 trillion. In dollar terms, volume shrank from $65.59 million to $30.87 million. Not a small dip. Just 70 big transactions took place during that time frame.
And the slowdown does not end there. Wallets holding at least 0.1% of the SHIB supply saw inflows collapse overnight. The Large Holders Inflow metric? Down 91.14%. A staggering fall from 3.8 trillion SHIB to just 336.75 billion. The usual activity from these wallets? Not there.
But outflows? A different story. They shot up, increasing by 378%. That means 1.13 trillion SHIB left large wallets in a single day, much higher than before. Redistribution, offloading — something is shifting.
Meanwhile, the price of SHIB has not moved much. After last week's volatility and liquidations, it looked like it was stuck. It has not moved since Tuesday. It only had a bit of life on Friday, climbing about 8% over the weekend. Could this be a breakout? It's still too early to tell.
With the big players taking a step back, the market is just sort of guessing what's going on. Are they waiting for something? Or are they repositioning? Or is something bigger on the horizon? The next moves in SHIB will likely depend on whether these big holders stay quiet or come roaring back.
