Shiba Inu is currently moving upward, but lack of whale commitment creates issues
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A slight 0.04% increase in concentration suggests a minor rise in the token holdings of the top SHIB addresses. This could be viewed as a subtle bullish signal, implying that some larger holders are possibly increasing their stakes, or fewer addresses are accumulating moreThe 15.66% drop in large transactions over $100,000 is particularly significant. This decrease often signals reduced activity from whales, who are typically capable of swaying the market with their large orders.
Currently, SHIB is consolidating within a narrowing price range, hinting at an impending volatility spike. The decrease in whale transactions could reduce significant sell-offs or buys, potentially stabilizing the price temporarily. However, the consolidation phase suggests that a breakout could be incoming. The direction of this breakout will likely depend on the rest of the market, rather than SHIB specifically, so we will have to wait and see.
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