Over the past 24 hours, significant volumes of Shiba Inu (SHIB) tokens, amounting to trillions, have been transferred by large holders, often referred to as whales. A total of 2.41 trillion SHIB tokens were involved in these transactions, marking substantial activity among whales. In this context, “large transactions” refer to those exceeding $100,000 in value.
Accumulation Signals from Whales
Shiba Inu, which has experienced a recent period of decline spanning several weeks, is now poised for its next significant price movement. The increase in netflows among Shiba Inu whales over the past week suggests potential accumulation by these large players. The Large Holders Netflow metric, indicating changes in whale and investor positions holding more than 0.1% of the supply, can help gauge this sentiment. Rising netflow values suggest accumulation by whales, while declines imply reduced positions or selling.
Over the last seven days, Shiba Inu has witnessed a notable 283% surge in large-holder netflows. This uptick in whale activity could indicate renewed interest and potential bullish sentiment among large SHIB holders.
Current SHIB Price Status
At the time of writing, SHIB was trading at $0.00000723, with a marginal 0.23% decrease in the past 24 hours. Shiba Inu’s price had previously peaked at $0.0000113 on August 12 before entering a declining phase. The cryptocurrency fell below key moving averages at $0.00000845 (MA 50) and $0.00000913 (MA 200).
Despite weeks of price stagnation and a recent low at $0.00000696 on September 11, SHIB has shown signs of recovery, achieving a positive close for the second consecutive day. If the current upward momentum persists, the next resistance levels to watch are at $0.00000779, followed by the daily MA 50 at $0.00000844. A breakthrough above these moving averages could mark the beginning of a new uptrend for Shiba Inu.