As a seasoned analyst with over two decades of market observation under my belt, I must admit that the recent tumultuous ride of Shiba Inu (SHIB) has been nothing short of intriguing. While the 99.5% drop in bullish whale activity may seem alarming at first glance, it’s important to delve deeper into the details.
The well-known digital currency, Shiba Inu (SHIB), is consistently facing major upheavals, evident both in its price trends and within its underlying blockchain environment. For instance, a notable event in the recent history of SHIB was an unexpected 99.5% decrease in bullish whale activity involving the Shiba Inu token.
48 hours ago, the amount of SHIB tokens flowing into wallets owned by investors holding at least 0.1% of the total supply significantly increased from 60.75 billion tokens to a staggering 2.97 trillion. However, today, this figure dramatically dropped to 14.8 billion tokens – the lowest it’s been this week – as reported by IntoTheBlock.
Examining the specifics more closely, it appears that the amount flowing out from Shiba Inu token owners’ wallets remained relatively stable during the reviewed timeframe.
Instead, the daily inflow figures exhibited substantial increases, initially rising approximately 3 trillion SHIB, followed by a sharp decline to around 760.82 billion tokens.
It’s worth noting that as the Shiba Inu token saw a substantial increase in holdings at whale-owned addresses, its price surged by more than 6%. However, once the net flow graph became steady, the token prices didn’t face significant strain but instead cooled off, currently trading with a slight drop of approximately 2.32%.
Given that the dramatic 99.5% decrease in net flows was primarily caused by the deflation of the unusually high inflows, rather than a rise in outflows from big investors (whales), it’s reasonable to conclude that Shiba Inu‘s status is favorable. Furthermore, there are substantial investors showing interest who can purchase the token at approximately $66 million every day.
The Shiba Inu token’s price isn’t at risk of a significant drop because there hasn’t been much selling from major investors.
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2024-12-27 16:50