The dog-themed cryptocurrency Shiba Inu has sparked a surge on the chain as the whales make intriguing moves.
The dog-themed cryptocurrency Shiba Inu has sparked a surge on the chain as the whales make intriguing moves.
According In the block According to data, Shiba Inu is experiencing a positive increase in net flows, with a +1708.21% increase in net flows from large holders.
Big Netflow headlines from IntoTheBlock data It gives an idea of the change in the whales’ positions. Spikes in net flow can be seen as a buildup of big players, while dips indicate reduced positions or selling.
In this scenario, accumulation seems more likely, as SHIB saw price growth in the last 24 hours, trading at $0.0000096 at the time of this publication.
Shiba Inu is up 9% weekly as bulls strive to erase zero from its price. However, SHIB is seeing an increase in outflows, which can be positive or negative.
By In the block Large holder outflow, which tracks funds leaving addresses belonging to whales or investors, increased by 640%, according to data.
Spikes in money outflows can indicate two things: first, sales from whale addresses; and secondly, withdrawals from exchanges, which is a net positive as it could mean that these addresses are willing to hold on to their assets for much longer rather than selling them by moving them into cold storage.
In related news, the Shiba Inu community continues to be full of expectations for Valentine’s Day. While the hype persists, Lucie, a member of the SHIB team, provides clarification on Sheboshis, the female counterpart of Shiboshis, whose release is imminent.
lucia said Sheboshis were first publicly mentioned at the Eth Conference in August 2023. However, their first mention within the Shiba Inu team dates back to February 2023. He adds that the Sheboshis have not yet been released and that the release is intended be a unique experience.
