Shiba Inu (SHIB) Sees Whale Accumulation Amidst Market Downturn
Shiba Inu (SHIB), the popular meme coin, is experiencing a surge in activity from large investors, known as whales. This accumulation trend comes despite a recent market downturn caused by inflation concerns.
Whale Activity Fuels Bullish Sentiment
Data from IntoTheBlock reveals a significant 602% increase in large holder net flows for SHIB. This suggests that whales actively buy SHIB tokens, potentially signalling confidence in the cryptocurrency's future. The buying pressure from whales can encourage other investors to follow suit, pushing the price upwards.
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SHIB Price Movement
While the broader cryptocurrency market faced downward pressure, SHIB defied the trend with a 6% ...