Shiba Inu saw 13% drop in value, falling to lows of $0.000027
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While several factors may have contributed to the SHIB price decline, on-chain data appears to provide an inkling into the key reason for the Shiba Inu price drop. Large transactions, often referred to as"whale" activities, play a role in influencing the market. A general drop in such transactions has been observed since March 5 and was down 5.43% in the last 24 hours, perIf coins are traded more frequently, it could imply that investors are more interested in short-term gains. Coins purchased during bull runs, presumably by retail dealers, had shorter average holding periods.
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