Only 1,000,000,000,000 Shiba Inu (SHIB) in 24 Hours: No Activity?

The numbers don’t lie: Shiba Inu, a once-meme-fueled phenomenon, is currently exhibiting signs of on-chain stagnation. Only 1 trillion SHIB has been transferred in significant transactions in the past day, which is a significant decrease from the most recent seven-day peak of 2.6 trillion. The recent low on May 1 of 383 billion SHIB solidifies the downward trend. This is cause for concern. Large transaction volumes that decline frequently indicate waning interest from institutional and whale investors, two groups that are essential to maintaining the upward trend of meme-driven assets like SHIB. According to the price chart, SHIB briefly pushed above the 50 EMA (~$0.00001450) before stalling just below it. The market appears to be indecisive as the asset is trading at around $0.00001294 with weak volume and an RSI that is neither oversold nor overbought, circling the neutral 50 mark. SHIB runs the danger of continuing its slow bleed in the absence of a spike in either buying pressure or network activity. We are even more concerned about on-chain metrics: 83% of SHIB holders are Out of the Money, which means they purchased their shares at a price higher than the current one, according to data from IntoTheBlock. Just 12 and 94% are profitable. You Might Also Like If the price makes another leg up, this enormous unrealized loss pool makes it more likely that there will be selling pressure because underwater holders might rush to sell. To put it briefly, Shiba Inu is going through a crucial phase of inactivity. There isn’t a clear catalyst in sight because volume is slowing down and there is little incentive for new players, particularly institutional ones. SHIB may continue to drift sideways to downward unless there is a change in the narrative, a burn mechanism trigger or a rally led by a whale. The next few days will be very important. Another decline toward the 200 EMA (~$0.00001140) is probable if SHIB is unable to maintain above the psychological $0.000013 level and the 50 EMA. It’s a low-energy environment that offers little more than conjecture until then. Source: https://u.today/only-1000000000000-shiba-inu-shib-in-24-hours-no-activity