Amidst the bustling world of cryptocurrencies, where fortunes are made and lost in the blink of an eye, the Shiba Inu (SHIB) has once again stunned the market with a staggering 2025% surge in large holder inflows. 🐕✨ This sudden influx of funds, reminiscent of a dog park on a sunny day, has left many scratching their heads and wondering what on earth is happening.
According to the data from IntoTheBlock, the funds flowing into whale addresses have skyrocketed by 2025% this week, reaching a mind-boggling 6.26 trillion SHIB on March 20. One can almost hear the whales chuckling as they scoop up the digital tokens, perhaps planning to take over the moon next. 🚀
The increase in large-holder inflows may have two implications, both as intriguing as a mystery novel. On one hand, it could indicate that considerable buying activity is taking place. After all, many of these addresses buy on centralized exchanges and then transfer their purchases to cold storage, much like squirrels storing nuts for the winter. 🐿️
On the other hand, spikes in Large Holder Inflows can also signal price bottoms. Whales, being the savvy investors they are, prefer to buy in large quantities after significant corrections, much like a bargain hunter at a Black Friday sale. 🛍️
SHIB Price Action
At press time, SHIB was up 1.63% in the last 24 hours, trading at $0.00001274. The digital asset has largely traded in a range since its decline from a high of $0.00001382 on March 16, a period that could be described as the calm before the storm. 🌩️
Since March 18, the range has tightened, with SHIB trading between $0.00001227 and $0.000013. Traders, like cats waiting for a mouse, are eagerly watching for the market’s next move. With renewed whale interest, all eyes are on SHIB’s next resistance levels. If momentum continues, SHIB could see further gains, potentially testing key price targets in the near future. 📈
That said, a break above the 50 and 200 moving averages around $0.00001448 and $0.00001915 would be the first indicator of bulls’ recovery. In the case of a decrease, support is expected at $0.0000108, which stopped SHIB’s price drop on March 11. 🛑
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2025-03-22 17:43