• After weeks of decline, whales have reduced their selling activity, while retail and derivative traders are increasing their SHIB accumulation.
• On the technical charts, SHIB shows the potential for a substantial price jump, with projections suggesting gains of up to 99%.

Following sharp declines of 12.31% and 26.72% over the past weeks, Shiba Inu [SHIB] is showing early signs of recovery. The memecoin recorded a modest 0.41% daily gain, indicating a possible shift in momentum.

Whales, who previously contributed to downward pressure, appear to be easing off their selling. This creates an opportunity for retail and derivative traders to drive the price higher in the coming days.

Whale selling activity declines

According to data from IntoTheBlock, whale activity has significantly declined in the past 24 hours. Both the number of transactions and transaction volumes have plunged.

Whales are addresses controlling up to 1% of an asset’s total supply. They are key players in influencing price trends. At press time, SHIB’s whale transaction count nearly halved. It dropped from 130 the previous day to just 70.

This drop brought the total trading volume down to approximately 920.76 billion SHIB. This volume is valued at $19.87 million.

The gradual price increase alongside this decline suggests that whales have shifted from active selling to a more neutral market position.

This shift is further confirmed by the average transaction size over the past 24 hours, which dropped to $5,960—far below the seven-day average of $22,640.

When whale participation diminishes, other market participants often step in, potentially influencing price trends. Historically, high whale activity keeps average transaction sizes elevated. A drop like this signals reduced influence from large hold

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Author: Olayiwola Dolapo