Shiba Inu sets off week with spike in whale transactions
Per the IntoTheBlock"Balance by Holdings" statistic, there is a tendency toward accumulation among Shiba Inu trillionaire addresses, particularly those who hold 1 trillion to 10 trillion SHIB, as their balance has increased in the last 30 days.has been on a steady decline since reaching a high of $0.00001134 on Aug. 12. At the time of writing, Shiba Inu was down 2.025 in the last 24 hours to $0.00000727.
The whole cryptocurrency market is trading down as traders await the release of key inflation numbers later this week. The U.S. will disclose August CPI and PPI statistics this week, while the European Central Bank will publish its interest rate decision. The year-on-year inflation rate is predicted to rise from 3.2% to 3.4%, while the core inflation rate is expected to fall from 4.7% to 4.5%.
The good news for the Shiba Inu price is that it is approaching oversold levels as the daily RSI approaches 30; hence, a rebound may be expected shortly to provide traders with respite.
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