Crypto/Economy/Market Analysis
Shiba Inu Whales Restrict Transactions Over $100K as Inflation Data Approaches
The looming U.S. consumer price index for May invites caution among Shiba Inu (SHIB) whales, resulting in a significant decrease in large-scale transactions.
1 min read
Overview
Shiba Inu (SHIB) whales are adopting a cautious approach in light of upcoming U.S. inflation data, with significant drops in major transactions as market control transitions from large holders to retail investors.
Key Takeaways
- The number of transactions by large SHIB holders has plummeted by 91.5% in the last four days as they prepare for a potential rise in the consumer price index.
- SHIB’s price is showing bullish signals after breaking key resistance levels, with trading volumes reaching unprecedented heights.
- There is a broad expectation that the inflation data for May could rise to 2.5%, potentially affecting the market landscape significantly.
Price Dynamics
The price of SHIB has surpassed 0.0000133, buoyed by a whopping 975 billion in trading volume, coinciding with a rise in the number of wallets that now hold SHIB tokens, indicating greater community engagement.
- Recent movements show a clear bullish trend, with a technical structure indicating higher lows.
- A forecasted hike in the consumer price index is anticipated, given previous inflation discussions sparked by tariffs.
For further insights, visit FactSet for in-depth analyses of the inflation data impacts.
