Shiba Inu whales are seemingly taking a breather as bulls prepare to take on the next big level for the SHIB price.
According to IntoTheBlock data, Shiba Inu’s large transaction volume, which estimates the daily total amount transacted by whales, has seen a decline.
Shiba Inu’s large transaction volume dropped 64.92% in the last 24 hours to $62.58 million. This amounted to 7.09 trillion SHIB in crypto terms.
Shiba Inu’s large transaction volume saw a sharp decline from 20.2 trillion SHIB on Jan. 24 to 7.09 trillion SHIB on Jan. 25.
A surge in large transaction volumes typically implies huge activity among whales, whether buying or selling. Meanwhile, a drop in this whale indicator might suggest a decrease in the activity of these large holders.
The total transaction volume recorded on-chain in the last 24 hours also saw a drop to 8.09 trillion SHIB.
The seeming decline in whale transactions coincides with the SHIB price gearing up to take on a major price level.
According to IntoTheBlock data, the next barrier from which SHIB presently trades is between the $0.000009 and $0.000013 levels, where 228.97 trillion SHIB were bought by 322,220 addresses for an average price of $0.000011.
At the time of writing, SHIB was up 2.31% in the last 24 hours to $0.000009.
In a positive development for the Shiba Inu ecosystem, Lucie, a Shiba Inu team member, hints that Shibarium is on the brink of taking a crucial step beyond automated burns. This will benefit TVL and provide a home for SHIB supporters, she explained.
In other good news, Uphold has announced a positive development for Topper users in Canada. Shiba Inu and other altcoins have been relisted on Uphold’s Topper.
