There is a marked decrease in the previously dominant whale activity in the Shiba Inu (SHIB) landscape. According to reports, significant SHIB holders and dealers have reduced their participation to levels not seen since early December, resulting in a 77% decrease in significant transactions in only two days.
According to information obtained by IntoTheBlock, the amount of significant SHIB transactions fell to 1.46 trillion tokens in the last day, or $15.83 million. Remarkably, only transactions above $100,000 in Shiba Inu tokens are taken into account in this steep drop, yet there were only 48 of these transactions throughout the designated period.
Examining the Shiba Inu ecosystem in further detail reveals that the declining activity also affects the wallets of major holders. Interestingly, wallets with at least 0.1% of the total SHIB volume lost an astounding 235.13 billion SHIB over the examined period, while receiving a meagre 324.24 billion tokens. These numbers show a significant 90.7% decline in outflows and an 88.86% fall in inflows.
There are two ramifications. On the one hand, the SHIB whale population’s loss suggests a sharp decline in activity that is almost reaching near-extinction levels. However, the space that whales have left behind signals an impending surge in on-chain activity, which might lead to yet another thrilling ride for the well-liked currency.
Whales being extinct might be the precursor to the next exciting episode in the SHIB saga—the stillness before the storm.
