In a surprising turn of events, the overall whale activity on the Shiba Inu network has seen a slump. Ali Martinez, via an X post, mentions that the last three months have seen a 79% decrease in whale activity on the $SHIB network.
The fall in whale activity comes when the overall price for SHIB has been struggling. In the past month, the token has been trading down 23.9%. The market cap has also tumbled nearly 2.5% due to the bearish trading.
SHIB Whale Activity Fall: What Is Happening?
Over the last three months, whale activity on the Shiba Inu ($SHIB) network has decreased by 79%, indicating a change in the dynamics of the market.
This reduction may be caused by a number of things. First, the cryptocurrency sector as a whole has been comparatively erratic, with price swings and unclear regulations making big investors more cautious. It’s possible that many whales are stepping back and waiting for better circumstances before reentering the market.
Shiba Inu has also seen a decline in enthusiasm and speculative trading after seeing huge spikes in 2021. Major investors’ interest may have diminished when meme coin trends changed, which would have reduced market manipulation and huge transactions.
Last but not least, $SHIB may be losing whale attention due to heightened competition from other meme currencies and alternative investments. This decline in whale activity could be a sign that the market is maturing and that price action is being driven by smaller, more reliable players.
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Will the $SHIB Price Fall?
According to market technical indicators, the Fear & Greed Index for $SHIB is currently displaying 55 (Greed), and the sentiment is currently bearish.
Over the previous 30 days, Shiba Inu had 10/30 (33%) green days and 10.23% price volatility. With three technical analysis indicators indicating bullish signs and twenty-seven indicating bearish indications, the overall sentiment of Shiba Inu price prediction is unfavorable.
However, an overall market rebound will likely give SHIBA Inu price the much-needed rebound. In that case, Shiba Inu’s 200-day SMA is expected to increase over the course of the upcoming month, reaching $0.00002044 by March 23, 2025.
One well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. The SHIB market is in a neutral position at the moment, as indicated by the RSI reading of 39.14.
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