Shiba Inu (SHIB) Price Gives Advantage to Whales: Details

The recent fluctuations in the price of Shiba Inu (SHIB) have caught the attention of cryptocurrency investors, particularly large holders or "whales." Recent data indicates that these whales are beginning to accumulate SHIB, potentially signaling a shift in market dynamics.

Key Takeaways

• Large Holders Netflow metric shows significant inflows of SHIB.

• Current trading price of SHIB is $0.000018.

• Recent price action includes a 33.2% gain followed by a 6.31% loss.

• Average large transaction size has increased significantly.

Whale Activity Increases

According to IntoTheBlock, the Large Holders Netflow metric has seen a notable spike over the past 24 hours. This metric tracks the inflows and outflows of holders possessing more than 0.1% of the total supply of Shiba Inu tokens.

• Netflow Change: The netflow shifted from -163.24 billion SHIB to 349.3 billion SHIB.

• Interpretation: A positive netflow indicates that large players are accumulating SHIB, while a negative netflow suggests selling or reducing positions.

Transaction Volume Insights

Despite the positive netflow, the overall activity in large transactions (those exceeding $100,000) remains relatively low. In the last day, there were:

• Total Large Transactions: 99

• Total Volume: 1.39 trillion SHIB (approximately $25.2 million)

This averages out to:

• Average Large Transaction Size: 13.9 billion SHIB (around $252,000)

This average is 2.5 times higher than the standard, indicating that while whales are buying, the overall market activity is still cautious.

Price Outlook for SHIB

The current trading price of Shiba Inu stands at $0.000018. The past two weeks have been volatile, characterized by:

• Gains: 33.2%

• Losses: 6.31%

This week is crucial for SHIB as it may determine the future price trajectory. The recent accumulation by whales could suggest a bullish sentiment, but the market remains unpredictable.

Conclusion

The recent data surrounding Shiba Inu (SHIB) indicates that while whales are starting to accumulate the token, the overall market activity remains subdued. Investors should keep a close eye on upcoming trends and market movements as they could significantly impact SHIB's price in the near future.

Sources

• Shiba Inu (SHIB) Price Gives Advantage to Whales: Details, U.Today.