Shiba Inu (SHIB) cryptocurrency experiences a significant increase in whale netflows, potentially indicating a high level of interest.
Increase in Whale Netflows
According to IntoTheBlock data, Shiba Inu witnesses a 7,429% surge in large holder netflows. A positive large holder netflow suggests that whales are accumulating more assets, which can be a bullish signal for the market.
Impact on SHIB Price
Despite the significant increase in whale netflows, it does not guarantee an immediate price hike. Other factors like market dynamics and sentiment can influence the price. Shiba Inu surged to $0.0000199 during a trading session amid a broader crypto market rally.
SHIB's Prospects
SHIB reached highs of $0.0000199 on Nov. 6 and has since declined by 1.79% to $0.00001872. The $0.000020 level remains crucial for bulls. A break above could signal a rise to $0.000026 and then to $0.000029. Conversely, a drop below $0.000016 may keep Shiba Inu within the $0.000013-$0.000020 range.
The future of Shiba Inu is uncertain, but increased interest from large holders may play a pivotal role in its development.
