U.Today - Shiba Inu's price has not been showing any notable performance on the , but what is actually intriguing is the sudden spike in whale transactions. According to data from , the number of large transactions — often dubbed as "whale" transactions — on the Shiba Inu network has catapulted from a mere 13 to an astonishing 74. That is a jaw-dropping 500% increase. So, what's cooking in the Shiba Inu kitchen?
As of the latest data, Shiba Inu is trading at approximately $0.00000762. While the price seems to be in a low-volatility phase, the uptick in whale activity could be a harbinger of something big.
Source: Often, when whales start moving, they are not just splashing water; they are making waves. In lingo, this could signify a period of accumulation. Whales might be stockpiling SHIB tokens, perhaps in anticipation of a forthcoming price rally or some other significant event.
Now, why would whales choose a period of low volatility for accumulation? Simple. It is less noisy, and the market is less likely to react immediately to large buy orders, allowing for a more discreet accumulation process. It is like quietly filling your plate at a buffet before anyone else notices the best dishes are running out.
But let's not get carried away. While increased whale activity is often a bullish sign, it is not a guaranteed ticket to the moon. Market dynamics are complex and influenced by a myriad of factors. However, the timing is interesting, to say the least.
So, should you follow the whales? That was a personal decision and should be made based on thorough research and risk assessment. But keeping an eye on the token will not cause any harm.