Shiba Inu Faces Decrease in Whale Transactions as Price Prepares for Key Level

Breath is held as bulls gear up for Shiba Inu’s next significant price level. The large transaction volume for Shiba Inu, representing the total daily amount handled by whales, has experienced a decline.

The significant transactions for Shiba Inu dropped by 64.92% over the last 24 hours, reaching $62.58 million, equivalent to 7.09 trillion SHIB in cryptocurrency terms. This marks a sharp decline from 20.2 trillion SHIB on January 24 to 7.09 trillion SHIB on January 25.

Typically, a substantial increase in transaction volumes indicates significant activity among whales, whether in buying or selling. Meanwhile, this drop in the whale indicator may suggest reduced activity from these large holdings.

The total transaction volume recorded on the chain in the last 24 hours also decreased to 8.09 trillion SHIB. This noticeable decrease in whale transactions aligns with the readiness of SHIB’s price to reach a crucial price level.

According to IntoTheBlock, SHIB is currently trading between the levels of $0.000009 and $0.000013, with 228.97 trillion SHIB purchased by 322,220 addresses at an average price of $0.000011. SHIB has risen by 2.31% in the last 24 hours to reach $0.000009.

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In a positive development for the Shiba Inu ecosystem, Lucy, a member of the Shiba Inu team, hinted at a significant move beyond automatic burns for Shibarium. She explained that this would benefit TVL and provide a home for SHIB supporters.

In other good news, Uphold announced a positive development for Topper users in Canada. Shiba Inu and other alternative currencies have been reinstated in Uphold’s Topper.

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