Pray, allow me to indulge in the most unpleasant news: the most recent Shiba Inu data paints a rather dismal portrait. A mere 320.14 billion SHIB were transacted in the last 24 hours. One might say, were the circumstances different, this amount would have been a trifle—barely worth a mention on days when SHIB’s 24-hour transaction volume once soared to the stratosphere of one or even two trillion! But alas, this paltry figure of 320 billion is now but a mere rounding error in comparison.
This unfortunate decline is further supported by on-chain data, which reveals that even though SHIB’s price struggles valiantly to keep afloat, heavy transaction volumes remain distressingly low. In fact, the seven-day peak for large transactions rests at a meager 3.14 trillion SHIB, a paltry sum when one recalls the once-grand price that ignited the meme-coin frenzy.
At the present 320 billion, we find ourselves in precisely the same position as we were one week ago. The price chart offers little comfort, as SHIB presently hovers perilously near multi-month lows at $0.0001297 USDT. The bears, like an ever-encroaching storm, appear to be growing in strength, particularly after the recent breakdown below the 50 EMA and the horizontal support. The only semblance of hope lies with the 200 EMA, a distant and faint line of defense, lest SHIB slide even further. Indeed, the technical signs speak volumes: the malaise is all too real.
Since the close of 2024, the market has been trapped in a ceaseless dance of lower highs and lower lows, a wretched downward spiral. The situation is made even more dire by the sharp decline in the volume of large transactions, a clear sign of waning interest from the whales, those fickle creatures of the crypto world. With their absence, SHIB’s potential for any meaningful upward movement appears dim indeed. This conclusion is echoed by the seven-day average of 2.76 trillion SHIB. The once-bustling token is now but a shadow of its former self.
In conclusion, without a surge of speculative fervor, one is hard-pressed to imagine any swift resurgence for this beleaguered token. The retail interest seems to have ebbed away, and without volume, SHIB is likely to remain stagnant in the doldrums. To put it plainly, SHIB is stuck in a most unflattering manner. The path of least resistance presently points downward, not upward, unless some grand event or whale-induced surge arises from the depths. Alas, the 320 billion SHIB figure is less a cause for celebration and more a dire warning for what lies ahead.
Read More
- CRK Boss Rush guide – Best cookies for each stage of the event
- Fortress Saga tier list – Ranking every hero
- Glenn Greenwald Sex Tape Leak: Journalist Cites “Maliciously Political” Motives
- Mini Heroes Magic Throne tier list
- Grimguard Tactics tier list – Ranking the main classes
- Castle Duels tier list – Best Legendary and Epic cards
- Cookie Run Kingdom Town Square Vault password
- How to Prepare and Dominate the Awakened Hollyberry Cookie Update
- Hero Tale best builds – One for melee, one for ranged characters
- Overwatch Stadium Tier List: All Heroes Ranked
2025-06-02 15:25