Online activity around the popular meme-inspired cryptocurrency Shiba Inu (SHIB) hints at something interesting in the coming days, as data from IntoTheBlock revealed that large holders’ net flows have skyrocketed by over 2,944% in the last 24 hours.
To put this into numbers, the total net flow of Shiba Inu tokens into the whale’s wallet was SHIB 322.7 billion. This compares to -10.96 billion SHIB the day before.
Thus, the number of token movements not only increased sharply, but also became positive, meaning that the whales became optimistic and began to accumulate. This is also reflected in the special indicator of inflows, which reached a staggering SHIB 2.67 trillion during the period under review, while outflows lagged slightly behind at SHIB 2.35 trillion.
Whales enter, paper is distributed
Behind this rise is certainly the price of the popular meme coin. Or interest in him is growing. After emerging from a six-month downtrend, the price of the Shiba Inu rose by more than 40%, bringing its quote to $0.0000217.
SHIB has since undergone a full correction, peaking yesterday with a loss of 19%, but buyers quickly bought into this price imbalance and pushed it 6% higher.
This is likely what you are seeing in the network statistics as this price action collides with whale movements.
The SHIB correction is now seen as healthy as only a third of the September pump has been lost. This opens the way higher for the Shiba Inu token, as all the unnecessary passengers and latecomers have disappeared along with the dump.
