Recent data shows that Shiba Inu has gained media attention due to a significant increase in large holder inflows alongside declining prices, raising concerns among market participants.
Significant Surge in Large Holder Inflows
Recent figures indicate that there has been over a 1,010% increase in inflows from large holders of Shiba Inu over a week. Such a spike during a price drop raises several questions about market behavior.
Current Market Situation for Shiba Inu
Market charts indicate that SHIB continues to decline steadily, currently trading at about $0.00001167, which is over 25% down from its local peak in early May. The asset is trading below all major moving averages, including the 50, 100, and 200 EMA, presenting a bearish outlook.
Potential Implications for Traders
If significant holders execute coordinated withdrawals, it could trigger a panic-selling chain reaction, especially given the low liquidity and confidence. However, if current purchases are in anticipation of a short-term bounce, that could alleviate the situation somewhat.
Speculative actions by large holders amidst the volatility in Shiba Inu require traders to maintain heightened vigilance, as the market outcome remains uncertain.
