Shiba Inu's (SHIB) Large Transactions Drop Sharply: A Sign of Worry

Shiba Inu's (SHIB) large transactions have seen a significant decline, raising concerns about market health. According to IntoTheBlock, the volume of large SHIB transactions in the last 24 hours dropped below 1 trillion tokens, a sharp fall from 7.49 trillion tokens earlier this week. Only 45 large transactions were recorded, down from a seven-day high of 285 transactions on June 18.

This steep decline suggests that large investors, often key market movers, are losing interest in Shiba Inu. The price of SHIB is dipping below key moving averages, showing a bearish trend. The RSI is in the oversold zone with relatively low volume, and the price is shifting below long-term moving averages like the 200 and 100, indicating strong bearish sentiment.

The reduced volume of large transactions could have multiple implications for the SHIB market. With fewer large transactions, SHIB's liquidity may suffer, making it more sensitive to price volatility. A lack of significant buying activity from large investors could lead to further price drops, as there will be less support to withstand selling pressure. $SHIB

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