🔅 Shiba Inu Crash 🔅

The activity of large investors, often called “whales”, in the cryptocurrency market $SHIB has decreased significantly by 84%, indicating the potential for upcoming SHIB price volatility. The latest analysis shows a substantial decline in large SHIB transactions, with the number of transactions above $100,000 falling by 83.77%, from 11.65 trillion SHIB to 1.89 trillion SHIB. This represents a monetary decrease from $321.63 million to $47.69 million. At the same time, SHIB price fell 2.4%.

Transaction frequency, which usually reflects whale and institutional trading, also reduced from 584 to 99 in a span of 48 hours. While the decline in whale activity may seem negative, it could also indicate that these large-scale investors have completed their accumulation phase, potentially triggering significant price movement for SHIB. However, the direction of this movement is still uncertain. Despite reduced whale activity, the price of SHIB is relatively stable, with price lows trending higher and higher, which suggests an upward trend.

Shiba Inu (SHIB) is a decentralized cryptocurrency created in August 2020. It is inspired by the Shiba Inu dog breed from Japan, which is also the mascot of Dogecoin, another famous meme cryptocurrency. SHIB is an ERC-20 token, meaning it operates on the Ethereum blockchain. 

This token started as a fun currency but quickly gained popularity and a dedicated following. The Shiba Inu community has developed a decentralized ecosystem around the token, including a custom Layer 2 blockchain called Shibarium. Initially, 50% of the total SHIB supply was sent to Ethereum co-founder Vitalik Buterin's wallet. He donated most of his SHIB holdings to India's COVID-19 relief fund and burned the rest, effectively taking them out of circulation.

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