Shiba Inu (SHIB) Whales’ Attempt to Boost Price by 36% May Fail
The leading meme coin Shiba Inu (SHIB) has caught the attention of its largest holders, or “whales.” A key on-chain metric has signaled a potential buying opportunity, prompting these large investors to pile in more SHIB.
However, the gains may not materialize as quickly as expected. Market sentiment surrounding Shiba Inu remains bearish, suggesting that the coin could face further declines.
Shiba Inu Whales Move Into Action
The volume of large transactions involving Shiba Inu has more than doubled since Sunday. Data from IntoTheBlock reveals a staggering 406% increase in large transactions — those exceeding $100,000 — over the past three days.
To put that into perspective, Sunday’s large transaction volume was 395 billion SHIB. But by Tuesday, it had risen to 2.51 trillion SHIB. In dollar terms, that’s a jump from $5.31 million to $33.41 million, highlighting a significant increase in market activity.
