Shiba Inu Raises Red Flags, Monero and VC Spectra Join the Market Uptrend
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Shiba Inu (SHIB) is raising suspicion based on its new trends. As a result, large holders are shifting towards uptrend projects like Monero (XMR) and VC Spectra (SPCT).
So, chances are, there might be a market shift before the year is over. Read on to learn all about it.
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Shiba Inu (SHIB) has suddenly seen a surge of questions about its transaction volume.
Specifically, the transactions involving amounts exceeding $100,000 in Shiba Inu (SHIB) have dropped more than half. Out of 100 such transactions, only 33 are happening.
This situation involving the popular meme coin Shiba Inu (SHIB) is taken as a red flag by the crypto community sending it down by more than 2% in a single day.
This comes after a week during which Shiba Inu (SHIB) exhibited outstanding performance, closing with an impressive 7% growth.
However, large Shiba Inu (SHIB) holders started shifting to other networks for transactions starting Friday and going into the weekend.
This shift indicates a critical need for an increased transaction volume in the SHIB network. For such a significant migration to occur, typically fewer than 1 trillion SHIB coins would need to be in circulation.
At present, the circulating volume stands at approximately $870 million.
This resulted in the end of the weekly bullish trend on June 27. The bear market is now starting to grab the Shiba Inu (SHIB) coin as its holders either shift to other currencies or sell the token.
With no imminent whales and lesser transaction volume, Shiba Inu (SHIB) desperately needs buyers and holders alike.
Over the past few days, Monero (XMR) has climbed at a modest rate of
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