The Shiba Inu (SHIB) landscape is witnessing a dramatic decline in the activity of its once-prominent whales. Large holders and traders of SHIB have reportedly scaled back their involvement to levels not witnessed since early December, marking a 77% drop in large transactions within a mere two days.
Data sourced from IntoTheBlock reveals that the volume of substantial SHIB transactions plummeted to 1.46 trillion tokens over the last 24 hours, equivalent to $15.83 million. Strikingly, this sharp decline only considers transactions exceeding $100,000 in Shiba Inu tokens, with a meager count of 48 such transactions within the specified time frame.
Delving deeper into the Shiba Inu ecosystem, the dwindling activity extends to the wallets of large holders. Notably, during the observed period, wallets holding at least 0.1% of the total SHIB volume received a paltry 324.24 billion tokens, while relinquishing a staggering 235.13 billion SHIB. These figures represent an 88.86% reduction in inflows and a substantial 90.7% decrease in outflows.
The implications are twofold. On one hand, the disappearance of SHIB whales indicates a significant reduction in their activity, approaching near-extinction levels. On the other hand, this vacuum left by whales suggests an imminent explosion of on-chain activity, potentially paving the way for another exhilarating roller coaster ride for the popular token.
The disappearance of whales may just be the calm before the storm, setting the stage for the next thrilling chapter in the SHIB saga.