• Shiba Inu experienced a notable 7.77% increase in large transactions, suggesting a potential uptick in market performance.
• The $1.25 billion in transactions over $100,000 in the past week demonstrates significant interest from major investors.
• Recent on-chain data shows mixed signals, highlighting bullish network growth amid bearish market indicators.

Shiba Inu witnesses major transactions surge while facing mixed market sentiments, showcasing both opportunities and challenges in the crypto landscape.

Shiba Inu Sees 7.77% Surge in Large Transactions

Shiba Inu (SHIB) has recently observed a 7.77% rise in large transactions. This phenomenon, often driven by psychological factors such as the “lucky number” effect, can have a tangible impact on market performance, especially in the volatile world of cryptocurrencies.

Increased Institutional Interest

According to recent data, SHIB recorded $1.25 billion in transactions exceeding $100,000 in the past seven days. This indicates a significant level of interest from large-scale investors, suggesting that major players might be in an accumulation phase. Such behavior is typically a precursor to a potential price spike as these investors anticipate future gains.

Network Growth Amid Bearish Indicators

Despite the bullish trend in transaction size, other on-chain indicators present a mixed picture. The network growth remains positive, with a 0.24% increase indicating that the SHIB network continues to attract more users and transactions. This growth is crucial for the token’s long-term viability and potential value appreciation.

Profitability and Market Sentiment

However, not all indicators are optimistic. The percentage of profitable token holders, measured by the “In the Money” metric, is currently at -13.70%, highlighting that many investors are holding SHIB at a loss. This scenario could increase selling pressure if there is no immediate price turnaround.

Market Signal Insights

Analyzing market signals further, the Bid-Ask Volume Imbalance is showing a bearish trend at -5.59%, suggesting that selling interest surpasses buying interest. Additionally, the Smart Price indicator remains neutral at -0.01%, indicating uncertain market conditions.

Conclusion

In summary, Shiba Inu is witnessing significant transactional activity from major investors, reflecting a bullish accumulation phase. However, other market sentiment indicators reveal underlying bearish signals, such as the imbalance in the Bid-Ask volume and the profitability of current holders. Investors should closely monitor these mixed signals to navigate the evolving dynamics of the SHIB market effectively.