$XRP and $SOL successfully moving upward during this market reversal, which we cannot say about $SHIB
As the Shiba Inu ecosystem continues to expand, many have expected the meme coin's price to show a positive trend. However, the recent price performance has been lackluster, with some attributing this to the substantial percentage of the total supply being held by whales.
Whales, or large investors with substantial holdings, can influence the market by making significant trades. In the case of Shiba Inu, the massive concentration of wealth in the hands of a few individuals may be preventing the price from rising as anticipated. One possibility is that the whales are holding onto their SHIB supply, waiting for a more opportune moment to sell or trade their tokens. This could be preventing the price from rising in the short term, as whales are not actively participating in the market. Additionally, the presence of these large investors may deter smaller traders from entering the market, fearing potential price manipulation or a sudden sell-off.
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