Shiba INU large transaction volume occurs in 49% within a day, will the whale leave?
As we all know, Shiba INU whales are known in major market actions, and the recent price recovery is no different. Last week, these large investors have been returning to the market to varying degrees to take advantage of the Shiba INU price increase above $0.000017. However, as these huge trading volumes dropped significantly in the space of the day, the tides changed.
Shiba Inu whale volume drops by 49%
According to Intotheblock, Shiba INU whales have been steadily rising since early May. On May 12, when Shib price hit $0.000017, it reached one of its highest levels of the month so far. There are a total of 6.35 trillion Xiyans, carrying at least $100,000 in transactions. The big deal this day hit a staggering $100 million. But this is short-lived because the direction changes rapidly.
By May 13, as trading collapsed nearly halfway, large transaction volumes dropped sharply. The large volume of transactions on that day was only 3.25 trillion chips, down 49% from the previous day’s 6.35 trillion chips. This puts the dollar amount to just $53.05 million.
The collapse of large-scale transaction volume coincides with a slowdown in crypto market rally. During the day, Shiba INU price retreated from $0.000017 at $0.000017 to $0.000015, while large deals also fell.
Given this, it shows that these whale investors could move too much in sales at the time. It will explain sales pressures, cut prices down, and The decline in large transaction volumes, When they move instead of buying instead of buying.
Heberia’s profitability remains low
Recent voluntary INU price declines have also impacted the profitability of its holders, as less than 50% of people make profits at current prices. Of all the holders of Green, only 45% holders, and most investors are still losing care. Currently, according to Intotheblock data, the number is currently 50% of RED. This leaves the remaining 5% of the holders in close proximity, which means that the coin finally moves at a price close to the Hebrew sitting now.
Still, Shiba Inu continues to maintain its position behind Dogecoin, the second largest meme coin in the space, with a market cap of nearly $9.5 billion at the time of writing. That puts it ahead of $5.9 billion like Pepe, while Trump has $2.7 billion.
Featured pictures from dall.e, charts from tradingview.com
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