Shiba Inu: Impact of Large Investors on Cryptocurrency Price

user avatar

by Giorgi Kostiuk

2 years ago

The activity of large investors in the Shiba Inu (SHIB) market has sharply increased, drawing attention to a potential bull flag in the price chart.

Increase in Large Investor Activity

According to data from IntoTheBlock, major SHIB holders have shown significant activity, purchasing nearly 500 billion tokens in a day. The Large Holders Inflow metric, which tracks transactions by large investors, doubled to 492.81 billion SHIB. During the same period, outflows totaled 382.94 billion SHIB, resulting in a net inflow of 109.87 billion coins to these wallets.

Price Analysis and Bull Flag

As large investors accumulate SHIB, the cryptocurrency's price chart shows possible formation of a bull flag. Despite the price dip over the past four days, there have been no rapid sell-offs. Previously, SHIB rose by 20% in two days, which could be considered a correction before further potential growth.

Potential Market Implications

If the bull flag is confirmed, SHIB's price may rise above $0.00003, potentially explaining the optimism of large investors inclined towards growth.

The sharp increase in the activity of large SHIB holders might signal upcoming positive changes in the market. Investor attention to this activity might herald price increases for the cryptocurrency.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Apex Group Joins Hedera Council to Enhance Governance in Digital Assets

Apex Group has joined the Hedera Council to enhance governance in digital assets and explore tokenization initiatives.

user avatarZainab Kamara

American Securities Association Raises Concerns for Retail Investors in CFTC Case

The American Securities Association (ASA) has filed a motion in federal court emphasizing the potential harm to retail investors in the ongoing legal battle over single-stock perpetuals.

user avatarSon Min-ho

PNC Bank Introduces Pilot Program for USDC Payments

PNC Bank has launched a pilot program for eligible clients to receive Ethereum-based USDC payments, automatically converted to US dollars.

user avatarAyman Ben Youssef

Circle and Global Citizen to Implement USDC Payments for Move Afrika Vendors

Circle and Global Citizen announce a partnership to implement USDC payments for vendors involved in the Move Afrika initiative, starting in Rwanda in 2027.

user avatarTando Nkube

Fold Focuses on Customer Retention with New Products

Fold focuses on customer retention and balances with new products like Fold Reserve and Lead Bank spending accounts.

user avatarNguyen Van Long

Onramp Introduces New Business Bitcoin Account with Enhanced Security Features

Onramp has launched a new business Bitcoin account focusing on security and governance, supporting up to three named users and role-based permissions.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.