Shiba Inu (SHIB) activity was up massively in the SHIB/USD trading pair after the asset re-set ATH levels. However, now there has been a decrease in these transaction levels.
According to on-chain data, the percentage of large transactions on the Shiba Inu network has decreased by more than 7%, which is seen as a significant drop.
A decrease in the number of transactions is generally considered a bad sign for small cryptoassets. Large transactions, also known as whale-level transactions, are welcomed by the crypto community as they indicate a positive market.
Whales change trends by making large trades in favor of the asset compared to retail investors. Overwhelming whale purchases are a positive sign, as SHIB has been on the decline since late October.
Trade Volume Down
Along with the reduction of large transactions, the trading volume on Binance has also decreased significantly.
The volume drop was due to a decrease in interest in the token after the asset lost nearly 40% in ATH. During the crypto market correction last week, SHIB lost nothing of its value. Overall, the token’s decline has slowed and daily volatility has dropped by around 10%.