The Shiba Inu (SHIB) community is buzzing with activity as a staggering $115 million worth of SHIB has been moved around by whales.
This surge in large transactions has sparked intrigue, but the price of SHIB has not followed suit. Currently trading at $0.00000723, SHIB’s price has been on a downward trajectory.
The question arises: what is causing this disconnect between whale activity and price action? Let’s delve into the details.
One noticeable aspect of this situation is the substantial increase in trading volume, which has tripled in a short period.
Typically, rising volume is expected to drive price increases, but this time, it’s not happening. Despite the increased whale activity, the price of SHIB continues to decline, creating a perplexing scenario.
Several theories surround the reasons for this disconnect. One possibility is that whales are accumulating more SHIB at lower prices, anticipating a future upswing in value.
Alternatively, they may be diversifying their portfolios, moving assets without necessarily selling them on the market.
This whale movement presents a double-edged sword. On one hand, it indicates that significant players are still interested in SHIB, which could be interpreted as a bullish sign.
However, the ongoing price drop might erode the confidence of smaller investors, potentially leading to further sell-offs.