Shiba Inu (SHIB) Whales Acquire Over 1 Trillion Tokens Amidst Price Volatility

In the past 24 hours, large Shiba Inu (SHIB) investors added over 1.12 trillion tokens to their wallets as prices saw fluctuations of around 6%, according to IntoTheBlock. The increase indicates renewed interest from major holders amid a volatile market

Shiba Inu (SHIB), the meme-inspired cryptocurrency, witnessed a massive acquisition by large investors, commonly referred to as “whales.” Data from IntoTheBlock reveals that these investors added more than 1.12 trillion SHIB tokens to their holdings over the past 24 hours. This significant spike, reflected in the Large Holder Netflow metric, saw a jump from -951.84 billion SHIB to a positive 174.91 billion SHIB, amounting to a net increase of over 1.127 trillion tokens.

The Large Holder Netflow metric provides insights into the trading behavior of wallets holding at least 0.1% of the total SHIB supply. Positive netflows indicate that these investors are actively building their positions, while negative flows suggest sell-offs or reduced holdings. This recent increase in netflow suggests a strong position-building activity by whales, reinforcing their interest in SHIB despite the token’s roller-coaster price movements.

During the review period, SHIB’s price fluctuated by approximately 6%, briefly declining before rebounding to stabilize around $0.000019. The direct influence of whale activity on this price volatility remains speculative. However, what is clear is that large holders were actively increasing their SHIB assets, contributing to the token’s trading volume and potentially stabilizing its price.

This increase in whale activity highlights the continued interest in Shiba Inu as the token navigates a volatile market environment. With the SHIB price holding steady at its current level, market analysts will likely watch closely to see if this whale accumulation signals further interest from institutional investors.

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