Whale Activity Drives Shiba Inu Token Down: 2024 Price Analysis

Shiba Inu (SHIB) has seen a notable downturn in 2024, with the token’s price declining by over 12% since the beginning of the year. A deeper decline has followed over the last month, losing nearly 18.1%, and it has further dropped by roughly 6% this week, trading near the $0.0000123 mark. This decline is largely attributed to significant shifts in ownership patterns among influential investors, often referred to as whales. These whales have been actively selling SHIB holdings, decreasing their overall holdings.