Shiba Inu Coin (SHIB) whale returns to the market: What’s the mystery behind it?
Recently, whale investors in the Shiba Inu coin market have suddenly returned, and the frequency of their activities has increased significantly. Although the specific reasons for this sudden return have yet to be explored, it certainly sends an important signal: the market may be gradually returning to normal.
Judging from recent transactions, the flow of SHIB tokens is extremely active. The Robinhood platform recorded a transaction of up to 981 billion SHIB, which is approximately 15.84 million US dollars. At the same time, Coinbase’s hot wallet also received 161.348 billion SHIB, worth approximately $2.61 million.
In addition to this, SHIB transfers between Wintermute and Binance also exceeded $1 million. These transactions all indicate that important players or whale investors in the market are actively participating in SHIB transactions again, and on-chain data further confirms this activity trend.
According to a report by Into TheBlock, 84 large SHIB transactions occurred in the past day, and on July 5, 2024, this number climbed to 199 transactions, setting a new high within seven days. By July 8, SHIB’s total trading volume reached an astonishing 5.71 trillion, which was also a seven-day high. The reappearance of whale investors in SHIB trading may mean that market dynamics are undergoing profound changes. Such a large-scale transaction often indicates institutional investors' recognition of the asset's near-term potential or ongoing strategic layout.
Although we don’t yet know the specific reasons for these whale investors’ actions, their behavior is often seen as a harbinger of impending major changes in the market. From a broader perspective, the resurgence in whale activity may indicate that Shiba Inu Coin is entering a phase of relative stability. After a long period of downturn and price decline, large holders appear to have regained interest and confidence in SHIB.
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After the market plummeted, Daxian also hid some potential coins that were ready to explode.
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