Shiba Inu: Impact of Large Investors on Cryptocurrency Price

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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.

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