The Shiba Inu ($SHIB ) market is facing strong bearish pressure ๐Ÿป, with its price struggling to stay afloat! Both 24-hour and 7-day charts show a downward trend ๐Ÿ“‰, and now on-chain data has thrown another red flag ๐Ÿšฉโ€”a massive 61% crash in whale transactions! ๐Ÿ‹๐Ÿ’ฅ

Could this be a temporary dip or a sign of something bigger? Letโ€™s dive into the numbers! ๐Ÿ”Ž๐Ÿ“Š

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โšก Shiba Inu Whale Activity Takes a Nosedive!

Fresh data from IntoTheBlock reveals that whale transactionsโ€”a key indicator of market sentimentโ€”have plummeted ๐Ÿ˜ฑ. Since whales control massive amounts of SHIB, their activity often dictates the marketโ€™s next move ๐Ÿ“Š.

๐Ÿ”ฅ Hereโ€™s what just happened:

๐Ÿ”ป Large SHIB transactions collapsed from 353 to 136 in just 24 hoursโ€”a 61% drop! ๐Ÿ˜จ

๐Ÿ”ป The total SHIB moved in these transactions fell from 6.81T to 3.05T SHIBโ€”a 55% drop! ๐Ÿ›‘

๐Ÿ”ป In USD terms, transaction volume tanked from $128.95M to $54.74Mโ€”a 58% crash! ๐Ÿ’ฅ๐Ÿ’ฐ

๐Ÿ’ก What does this mean? Whales are either:

โœ… Taking profits ๐Ÿค‘

โœ… Holding back due to uncertainty ๐Ÿค”

โœ… Waiting for a better entry point ๐ŸŽฏ

But with less whale activity, SHIB is losing momentum fast! โš ๏ธ

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๐Ÿ“‰ Whatโ€™s Next for SHIBโ€™s Price?

The drop in whale activity is already hurting SHIBโ€™s price ๐Ÿšจ:

๐Ÿ”ด SHIB is down 2.7% in 24 hours & 9.5% over the past week! ๐Ÿ˜Ÿ

๐Ÿ”ด It has lost the key $0.000020 support level and is now hovering above $0.000018! โš ๏ธ

๐Ÿš€ What could happen next?

๐Ÿ’ฅ If whales return, SHIB could rebound and regain strength! ๐Ÿ”„๐Ÿ“ˆ

๐Ÿ’ฅ If whale activity remains low, SHIB could drop below $0.000018, leading to further losses! โ›”๐Ÿ“‰

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๐Ÿ”ฅ Final Thoughts โ€“ Will SHIB Recover?

The massive drop in large transactions shows that whales are stepping back, either cashing out or waiting for a better move ๐ŸŽฒ. Right now, SHIB is at a crucial point, and its next move depends on whether big investors jump back in! ๐Ÿš€๐Ÿ’Ž

Will whales return and push SHIB back up? Or will we see more downward pressure? ๐Ÿค”๐Ÿ’ฐ

๐Ÿ”ฅ Drop your thoughts in the comments!

Letโ€™s discuss where SHIB is headed next! ๐Ÿ•๐Ÿ“Š๐Ÿš€

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