Whale activity of Shiba Inu surges 41%—Is the market's interest in Shiba Inu heating up again?

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According to the latest data from IntoTheBlock, the large transaction volume of Shiba Inu surged by 41.39%, totaling 2.79 trillion SHIB (76.48 million USD). Prior to this, the trading volume had plummeted in early December, dropping from 18.85 trillion SHIB to just 1.9 trillion SHIB.

The increase in whale activity indicates potential accumulation or redistribution, which may affect the price trend of SHIB. A recent CNF update highlighted that 1.67 trillion SHIB was snapped up, with an expected increase of 45%. During this process, Whale Alert announced:

Market indicators sending mixed signals.

The price of Shiba Inu stabilizes around 0.00002759 USD, maintaining support above the 50-day moving average, indicating price stability. However, the Bollinger Bands Percentage (BBP) shows a slight bearish trend, suggesting that prices will continue to consolidate.

Meanwhile, daily trading volume has declined, reflecting that despite the increasing whale activity, retail investors remain cautious.

Retail participation declines.

The daily active addresses for SHIB have significantly decreased, dropping from over 18,000 in November to just 2,500 now. This decline contrasts sharply with the surge in large transactions, highlighting the reduced participation of small holders.

Traders are advised to closely monitor whale activity, as further accumulation may drive prices up in the near future. As of now, according to data from CoinMarketCap, the trading price of Shiba Inu (SHIB) is 0.00002727 USD, up 2.15% in the past day and up 3.83% in the past week.

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