On-chain data for the well-known cryptocurrency Shiba Inu has been the subject of unusually unsettling behaviour. Big SHIB holders have reportedly displayed unsettling behaviour, according to the crypto intelligence service IntoTheBlock. The trend made a significant swing beginning on Friday and continuing throughout the weekend after exhibiting extraordinarily positive dynamics throughout the week.
The huge decrease in transaction volume by major Shiba Inu token holders is very concerning. Earlier in the week, this number had increased by a startling 150%, or 1.5 trillion SHIB, but in recent days, it has fallen to less than 1 trillion, or 865 billion tokens. To put that in context, there were 74 fewer transactions involving sums greater than $100,000 than there formerly were.
The Shiba Inu token’s netflow value, which has recently fallen into the negative range, is another warning sign to be aware of. Significant investors’ wallets have seen more tokens leave than enter, with 272.45 billion departing vs 195.98 billion entering. As a result, on Saturday, the netflow of Shiba Inu whales’ wallets had drastically decreased from the 310.59 billion it had been just a few days before to a troubling -76.48 billion SHIB.
The Shiba Inu token’s price behaviour throughout this time can be seen on the chart, further demonstrating how large investors typically plan their actions ahead of time, especially during steady price periods. It also emphasises the priceless information that on-chain data may provide, giving a peek into the inner workings of the bitcoin market.
