- Shiba Inu whales accumulate trillions of SHIB tokens.
- Large-holder netflows in Shiba Inu surge by 283%.
- The SHIB price shows signs of recovery, targeting $0.00000779.
Shiba Inu (SHIB) is again making waves in the digital asset market. In the past 24 hours, an astonishing number of SHIB tokens, numbering in the trillions, have been on the move, signaling significant activity by the cryptocurrency’s largest holders.
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According to data from IntoTheBlock, a whopping 2.41 trillion SHIB tokens changed hands within this brief timeframe. These massive transactions, often exceeding $100,000 in value, are typically associated with crypto whales, those individuals or entities holding substantial amounts of the cryptocurrency.
This surge in large transactions has ignited speculation that Shiba Inu’s formidable whales are accumulating more tokens in anticipation of a potential price rally. The evidence for this hypothesis lies in the remarkable surge of 283% in large-holder netflows over the last seven days.
In crypto trading, price action often tells a compelling story. Shiba Inu, which had experienced a prolonged decline following its peak at $0.0000113 on August 12th, shows signs of a resurgence. It found its footing at lows of $0.00000696 on September 11th and has since been on the move.
As of the latest data, SHIB is trading at $0.00000723, marking a minor 0.23% decrease in the past 24 hours. However, the cryptocurrency has shown promise by hitting intraday highs of $0.00000728. Should this upward momentum continue, the next target for SHIB is set at $0.00000779, followed by the crucial daily Moving Average (MA) 50 at $0.00000844.
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