Shiba Inu has just witnessed one of the most inactive periods as a meme coin. Its whale activity and significant transactions have drastically fallen. The latter was seen flagging just 20 transactions on record.
Significant transactions ideally denote major or high-volume transactions that happen on a network. A fall in the segment signals a fall in whale activity automatically. Analysts believe that Shiba Inu is going through the current phase because major investors have started losing interest. This is based on the grounds that there is no tangible utility to SHIB. It has gained popularity as a meme coin, but that will not be enough anymore.
Investors are looking at options, which are other cryptocurrencies that are more stable. The market is volatile, and keeping funds in a pool where the basis of future growth is missing is only a walk toward draining those funds. The crypto investment landscape is maturing. Many tokens are offering better value to holders.
Needless to say, volatility is still a key factor, but leveraging the option to divert funds to a more stable pool is worth opting for. The development comes at a time when the price of SHIB has become stagnant. It is finding a resistance level but to no avail. The token was last seen being traded at $0.000006954. As per Shiba Inu coin prediction, there is scope that the token may bounce back to at least $0.0000091. The maximum it can touch is $0.0000220.
Price changes in SHIB are concerning since it has fallen nearly 3.77% in the last 24 hours. Crypto prices can demonstrate a reversal effect at any moment. It will just take more effort for SHIB to make a comeback. As of right now, experts have not ruled out Shiba Inu. It has also not been assured that the token will dominate any time soon. All it needs are strong fundamentals to regain investor attention.
BTC and ETH are also down to $27,570.50 and $1,594.97, respectively. It is a macro effect that the crypto market is struggling to find balance in the current situation. More recently, credit for the downfall can be given to exploits being done by malicious actors. This is one theory behind investors moving on to a safer and more stable network. Stars Arena was exploited for $2.88 million. Funds were drained in AVAX.
Shiba Inu’s whale activity has plunged as prices have become stagnant. This has driven the network to one of its most inactive periods. A comeback is expected; however, Shiba Inu will have to show tangible utility on top of meme coin popularity to regain the interest of investors. Significant transactions are currently 20, and the token is struggling at less than $0.000007.
Source: https://www.cryptonewsz.com/shib-and-whale-activity-prices-show-no-positive-movement/