There has been a noticeable increase in whale-tier transactions on Shiba Inu lately, which may indicate an increase in volatility. Though many are hoping for a substantial impact, these massive transactions may not have the desired effect given the current situation of SHIB.
Using the on-chain data that has been supplied, we can analyse it and find that 82 sizable SHIB transactions totaling 1.7 trillion SHIB have occurred in the past 24 hours. This corresponds to the lowest activity level of the previous week, suggesting that there may not be a steady interest in purchases. The transaction volume, which was $40.48 million, much less than the seven-day peak of $223.76 million earlier in the week, further supports this pattern.
SHIB has been unable to break through and has been trading near the 50 EMA. The Bollinger Bands show a narrowing, which is usually an indication of impending volatility spikes, but this may not translate into meaningful price movement in the absence of high volume. The MACD histogram indicates waning bullish momentum with a decreasing trend.
Despite their size, the whale deals may not actually reflect true market demand, but rather internal reorganisation or consolidation. The rather flat price movement in spite of the enormous transaction volumes is indicative of this. Increased trading volume and persistent buying pressure—both of which are now absent—are required for SHIB to see a significant price spike.
The underlying data indicates that Shiba Inu is now in a consolidation period, despite the fact that the spike in whale transactions may initially appear to be a positive indication. In the absence of a substantial infusion of fresh buyers or heightened trading activity, SHIB may persist in its sideways trading pattern. Right now, Shiba Inu is more in need of new players than major stars who have played there previously.
