Shiba Inu Whales Make a Comeback

Shiba Inu (SHIB) whales appear to be experiencing a resurgence, with large holder netflows surging by an astonishing 1,448%.

Recent on-chain data indicates a significant rise in whale transactions, affecting large-holder-related metrics that have shown substantial increases within the last 24 hours.

According to data from IntoTheBlock, Shiba Inu’s large transaction volume has soared 197.15%, reaching 7.49 trillion SHIB (approximately $97 million) in monetary terms, marking the peak in the last week.

Additionally, inflows to Shiba Inu large holders, which track funds entering whale addresses, have skyrocketed by 3,868%, rising from 1.41 trillion to 6.26 trillion SHIB.

After being stagnant for several days, inflows to SHIB large holders increased from 189.81 billion SHIB on March 17, with the latest spike being the largest.

Large holder outflows, which track the movement of funds leaving whale addresses, also rose from 1.27 trillion SHIB to 5.54 trillion on March 20, following a consistent increase since March 18.

Netflows Skyrocket

IntoTheBlock data reveals that Shiba Inu’s large holders’ net flows have surged 1,448% this week, showcasing the resurgence of SHIB whales.

This dramatic increase indicates a shift in sentiment as whales seem to be positioning for potential future gains. The upswing in net flows suggests possible accumulation, which may lead to upward momentum.

The Shiba Inu community remains vigilant as whale activity intensifies. If accumulation persists, SHIB could experience a bullish breakout in the upcoming weeks. However, market conditions and broader crypto trends will ultimately dictate its path.

As of press time, SHIB was down 1.31% in the last 24 hours, priced at $0.0000127 amidst a market with several digital assets seeing profit-taking during the early Friday session. A breakout above the 50 and 200 moving averages at $0.00001448 and $0.00001915 would signal the bulls’ return.