According to WhaleStats, whales have 42% more SHIB in their wallets than before. The average SHIB balance of whales appears to be around 2.5 billion.
This transaction of whales, who added more than 42% SHIB to their wallets in the last 24 hours, did not have a positive effect on the price of the popular meme token.
Whales that recently bought Shiba Inu from various exchanges did not affect the price of the asset.
The Shiba Inu remained at the same price level for three days at around $0.000039, trading with low volatility.
Shiba Inu Trading Volume Drops
The SHIB balance in the whales’ wallets has increased significantly. The trading volume provided by SHIB investors decreased significantly by 36%.
The reason behind this is due to both the correction in crypto assets and the low volatility in the SHIB/USD trading pair. The Shiba Inu’s spike in popularity was followed by extremely high volatility, reaching 70%.
With an average volatility drop of 10% and a price correction of 60%, most investors have left the Shiba Inu and moved their funds to other popular crypto assets to capture more volatile fluctuations.