Recent data indicates a significant rise in Shiba Inu (SHIB) accumulation among large holders, despite the token's price stagnation.
Accumulation among large holders
Data on fund flows for Shiba Inu indicates that its netflow among large holders surged by 764% in just a week. Over the last 30 days, this figure increased by 83%. This points to a growing popularity of the token among key players capable of influencing the market.
Relation to Bitcoin movement
Analysis shows that the number of addresses with large Bitcoin balances is also on the rise, and this accumulation may impact other significant assets in the ecosystem, including Shiba Inu. If Bitcoin continues to strengthen its position, it may lead to a rise in popular tokens like SHIB.
Prospects for Shiba Inu
Despite current technical stability, Shiba Inu is experiencing an influx of capital from users known for their timing around turning points. If SHIB can convincingly recover above the 50 EMA level, this could lead to significant buying from traders, facilitating further growth.
The 764% increase in netflow indicates a potential recovery for Shiba Inu, which could mark the beginning of significant changes in the token's price dynamics.
