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Recently, Shiba Inu has gained attention due to an intriguing trend in its on-chain data rather than a sharp price increase. SHIB has demonstrated stability despite its somewhat difficult market position, marked by low volatility and moderate price activity. Given the large trading volume in recent days, it appears that major holders, or whales, are still using the token and perhaps preparing for a future price recovery.
Around 147 large transactions totaling over 2.34 trillion SHIB in volume were recorded in the last 24 hours, the data showed. While these numbers do not match the recent highs of nearly six trillion SHIB traded in late October, the large trading volume shows that major holders are still actively involved in the market. This could indicate that even in this quiet time, they see potential value and are accumulating profits. SHIB at current levels.
However, the Shiba Inu’s price performance is still generally poor. The price of SHIB has not moved much at the moment, remaining near $0. 000017 without any bullish momentum to push it higher. While the lack of strong selling pressure is encouraging, the asset could remain stagnant for the near future if there is no new interest in purchasing it. There is some encouragement in the dedication of these major SHIB investors.
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The foundation for a future price recovery could be established if these large players continue to hold or accumulate SHIB. This level of participation may be an early sign of upcoming bullish action, as whale activity often precedes market movements, as history has shown. Retail investors monitoring the token may interpret this as indicating the possibility of a slow recovery, particularly if external market conditions favor the cryptocurrency assets.
Patience will be key, however, as the token does not yet have the instant bullish catalysts needed for a strong price increase. The continued activity of the whales, meanwhile, suggests that SHIB is resilient over the long term and has the potential to attract a lot of attention if overall market conditions improve.