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Shiba Inu Still Up 60 Million Percent Since All-Time Low Despite Reaching New Network Activity Low

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Wed, 12/15/2021 - 12:05
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Arman Shirinyan
Despite showing a record-breaking profit on the market, Shib is losing its support, according to these indicators
Shiba Inu Still Up 60 Million Percent Since All-Time Low Despite Reaching New Network Activity Low
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The memetoken that currently trades with a 60% discount from its all-time high has reached another low in terms of transactional activity on the network, despite being up 60 million percent.

Transaction count reached one-month low

According to a number of transaction indicators, Shib's popularity among whales has reached a one-month low with a transaction count dropping below 200 while reaching 800 transactions previously.

WhaleStats Data
Source: WhaleStats

The number of unique receivers and senders also remains low with eight addresses being unique receivers and seven large addresses unique senders. The total volume of transacted funds remains at three million SHIB tokens, which equals $100 approximately.

Asset up significantly

SHIB token is going through a tough period by losing more than half of its previously gained value. But on the bright side, the negative rally has lost its momentum and, at press time, Shiba Inu is trading in the rangebound formed since Dec. 5.

Daily SHIB Chart
Source: TradingView

The average volatility for the asset has also reached extreme lows that were normal for it before the 1,000% pump. The average changeability of SHIB is now at approximately 5%.

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At press time, Shiba Inu trades at $0.000033 and has lost -0.8% of its value today. Previously, SHIB gained 9.2% due to the general market recovery.

Additional market data

According to additional data on the market, Shiba Inu is negative in terms of the active address count among whales that are currently staying at 13. The asset also loses a significant part of its trading volume, with $12 million traded today and close to $20 million the day before.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.