According to IntoTheBlock's data, in the last 24 hours, #Shiba Inu has processed 1.55 trillion #SHIB transactions with a huge transaction volume of approximately $26.53 million. However, despite this impressive figure, there was a significant drop of 58.37% in major trading volume compared to the previous day. This decline marks a significant decrease in whale activity, following the seven-day high of 6.43 trillion $SHIB recorded on June 24.

However, while major trading volumes are decreasing, other $SHIB metrics are showing positive signals. The SHIB burn rate has increased by 59% in the last 24 hours, indicating increased efforts to reduce the total supply of #SHIB in circulation. According to the #SHIB burn X account, a total of 17,648,859 $SHIB tokens were burned in seven transactions in the last 24 hours. This reflects a 59% increase in the cremation rate.

Moreover, the total number of addresses of #SHIB remains strong, currently reaching 4.13 million. This figure highlights the continued interest and involvement of the Shiba Inu community despite the current uncertainty in the market. The number of fixed addresses shows that meme coin maintains a strong base of owners and supporters who believe in its long-term potential. The recent decline in major trading volumes may indicate a period of consolidation for the Shiba Inu. During such phases, market participants often re-evaluate their positions and strategies, and whales remain on the sidelines ahead of major price moves.