Shiba Inu Sees Major Shift In Large Transactions Processed Through Network

According to the crypto analytics firmIntoTheBlock, cryptocurrencyShiba InuSHIB/USD isexperiencing a substantialchange in large transactions.

On Saturday, IntoTheBlockreportedthat the vast majority of SHIB holders continue to remain underwater on their investments in the asset.

Shiba Inus current large-transaction momentum indicator isdown3.08%, giving a bearish signal.

However, 67% of Shiba Inu holders have held on to their SHIB for over a year, with 30% owning the top meme tokenfor between one month and 12 months.The remaining 3% of SHIB holders have owned their Shiba Inu for less than a month.

The report addedthat only 30% of SHIB holders are making money at the assets current price, compared to 5% breaking even and 65% sitting on losses.

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At the time of writing, Shiba Inu was trading at$0.00001052, down by 5% in the last week. The cryptocurrencycontinues toremain more than 87% down from its all-time high of $0.00008616.

Last week, nearly 25 trillion SHIB tokens, worth a quarter of a billion dollars,securely moved off one of the cryptoexchanges and were placed in cold storage, according to new on-chain data.

In addition, crypto analytics firmSantiment noted that24.9 trillion SHIB tokens were transferred into a self-custody walletin six separatetransactions by an unknownEthereumETH/USD address.

Earlier this month,SHIBbecamethe most traded tokenamong thetop ETH whales. Blockchain-tracking service Etherscan reported that a large crypto whale accumulated 118,058,494,947 SHIB worth $1.34 million.

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