Shiba Inu Whale Activity Plummets 88.09% Amid Market Volatility

Shiba Inu (SHIB), a prominent meme cryptocurrency, has witnessed a dramatic decrease in large-scale transaction activity, sparking concerns within its community and indicating potential caution from institutional investors amidst the ongoing market volatility.

According to data from IntoTheBlock, Shiba Inu’s large transaction volume, defined as transfers exceeding $100,000, plummeted by 88.09% on June 18. This significant drop saw the volume fall from $196.15 million on June 16 to just $23.36 million, highlighting a sudden slowdown in whale and institutional trading activity.

The broader crypto market has been experiencing a sharp downturn, with major cryptocurrencies like Bitcoin and Ethereum facing steep corrections. SHIB, like many altcoins, has not been immune to the negative sentiment sweeping through the market.

While large investors often accumulate tokens during market dips, the sharp decline in whale activity suggests a decrease in buying interest or a pause in accumulation. The reduced high-value movements in the Shiba Inu ecosystem reflect a cooling investor sentiment, despite the coin's stable price action over the past 24 hours.

This drop in large transactions may also indicate a wait-and-see approach from key players, as uncertainty continues to loom over the crypto market following intensified sell-offs and geopolitical instability.

Despite this bearish indicator, SHIB’s price has remained relatively steady, rising by 0.75% in the last 24 hours and trading at $0.00001170. The lack of price reaction may suggest consolidation before a breakout or simply reflect reduced trading volume across the board.

Shiba Inu reached recent highs earlier this month, but the 90% drop in whale transactions over two days now presents a more cautious outlook. Analysts note that this bearish divergence between stable price action and declining on-chain metrics may signal a pause in momentum or a potential upcoming dip.

SHIB holders and market watchers will be closely monitoring whether this downtrend continues or rebounds alongside Bitcoin’s next major move.