Shiba Inu has recently seen an exceptionally significant rise in transaction volumes, with over 3 trillion SHIB tokens traded in a single day. Despite this massive volume, there has been little to no movement in the price of SHIB on the market.
Concerns have been raised over possible hidden agendas and the potential implications of this odd behaviour for SHIB’s future. This rise in huge transactions may be the result of whales or major investors amassing SHIB. Large holders commonly buy assets during accumulation periods without having a big impact on the market price, usually as an indication that they think the asset’s value will rise in the future.
SHIB’s price has been steady despite the enormous amount of transactions, which would mean that these large transactions are being made on purpose to avoid causing market turbulence. Another explanation might be the moving of SHIB tokens between large exchanges.
These transfers often occur when exchanges make adjustments to their reserves or prepare for a listing or delisting event such as an airdrop of new trading pairs. Even while these adjustments often have little immediate impact on the market, they might be a hint of significant internal shifts within the exchanges that handle SHIB.
The performance of Shiba Inu on the chain is likewise connected to this dynamic. The data suggests that the rise in big transactions and the volume of SHIB being transferred have not been accompanied by a price increase. This disparity suggests that the market is either now consolidating or preparing for a potential move in the future.
The Bulls and Bears statistic, which also shows a well balanced distribution free of an overwhelming preponderance of buyers or sellers, lends credence to the idea that the market is in a wait-and-see mode.
