Recent data indicates a significant increase in Shiba Inu whale activity, possibly suggesting a market revival.
Transaction and Volume Growth
According to IntoTheBlock data, Shiba Inu's large transaction volume increased by 197.15% in the last 24 hours, reaching 7.49 trillion SHIB, equivalent to $97 million. This is the highest in the last seven days. Meanwhile, large holder inflows surged by 3,868%, indicating significant funds moving into whale addresses.
Network Flow Data
Shiba Inu's large holders' net flows have surged by 1448% this week, reflecting a substantial comeback by whales. This indicates a potential accumulation phase that might lead to upward momentum.
Market Impact and Future Prospects
The Shiba Inu community is watchful of whale activities as accumulation could lead to a bullish breakout. However, the coin's future path will depend on broader market trends and conditions. Currently, SHIB is down 1.31% over the past 24 hours.
The rise in whale activity within the Shiba Inu network signifies a potential change in investor sentiment. However, the future price movement will be determined by broader market conditions.
