• There is a decrease in the interest of “whales” in SHIB tokens as the price of the token has decreased by 3.75% in the past seven days.
• The decrease in the number of SHIB tokens that were burnt on the network on 26th January could be seen as a signal of declining network activity.
• The burn rate has now returned to normal levels and SHIB failed to push through the protracted downward trend and made a U-turn at the three-month regression line.

The price of Shiba Inu (SHIB), which is the world’s second-largest meme token, has been increasing along with the rest of the cryptocurrency market since the beginning of the bull market in 2023. However, in the past seven days, the token’s value has decreased by 3.75%. This decrease in price has caused many whales, or large investors, to lose interest in the token.

The difficulty or unwillingness of whales to drive the token’s price any further may be connected to the need for a brief correction that would cool down SHIB and the market as a whole. This is one of the reasons why many retail investors are hesitant to get into the project. On the 26th of January, there was a significant reduction in the number of SHIB tokens that were burnt on the network. A dip of this magnitude might be seen as a signal of declining network activity, which is unfavorable to SHIB and should be avoided at all costs.

The burn rate, as well as the general activity of the Shiba Inu network, are thankfully seeing a recovery. The burn rate has now returned to the levels that we typically observe when the network is operating normally. SHIB failed to push through the protracted downward trend and made a U-turn at the three-month regression line.

If the current trend on the market continues, the meme token will revert to the downward movement dynamic, at which point whales may once again show a greater interest in SHIB tokens. The recovery of the network activity and the token burning rate is a positive sign for SHIB and the cryptocurrency market in general. Only time will tell if whales will once again show an interest in SHIB tokens and drive the price of the token back up.