Shiba Inu (SHIB) Rockets 540% in 24 Hours in Bullish Whale Activity

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As a seasoned crypto investor with a knack for spotting trends and deciphering market signals, I find myself intrigued by the recent surge in Large Holders Netflow for Shiba Inu (SHIB). The 540% increase in this key on-chain metric is certainly eye-catching, hinting at a significant accumulation of SHIB by whales.

The well-known Shiba Inu (SHIB) digital currency, often associated with internet memes, is once again garnering attention due to an astonishing over fivefold rise in a significant on-chain indicator.

Based on IntoTheBlock’s analysis, there’s been a notable surge of interest from large investors in the 13th largest digital asset over the past day, as indicated by a significant 540% rise in Large Holder Outflows within the same period.

This graph monitors the inflow of Shiba Inu coins into wallets owned by investors who hold 0.1% of the total circulating supply. When significant increases in inflow happen, it might suggest an intense accumulation of the meme crypto by these investors.

Specifically, the Shiba Inu (SHIB) net flow increased dramatically from -48.1 billion to a record-breaking 265 billion within a day, marking the highest in the last seven days. Upon closer examination, this amount comprises approximately 767.33 billion SHIB entering and 502.33 billion SHIB exiting.

It’s crucial to note that over the specified 24-hour span, the inflows rose by more than half, whereas the outflows dropped by 10%.

Previously, U.Today shared news about a whale, who withdrew over a million dollars worth of SHIB within 24 hours from the leading U.S. exchange, Coinbase. It turns out that this investor wasn’t the only one amassing the well-known meme cryptocurrency, as large investors have been following suit in this trend.

It’s uncertain if this pattern will persist or what impact it will have on the Shiba Inu token’s price graph; only time will tell.

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2024-10-24 19:26