Shiba Inu sees a significant 2,649% surge in
on-chain metrics, indicating strong activity among large holders as its price begins to rebound.
Points
- Shiba Inu experiences a 2,649% surge in on-chain net flows.
- Large holder inflows increased by 3,835% in the past week.
- SHIB price rebounds to $0.00001764, up 2.23% in the last 24 hours.
- Bitcoin’s surge supports the rise of smaller tokens like Shiba Inu.
Shiba Inu （SHIB）, the popular dog-themed cryptocurrency, has witnessed a staggering 2,649% increase in on-chain net flows, according to data from IntoTheBlock. This key metric, which tracks the positions of large holders, suggests a significant accumulation by whales. Over the past week, large holder inflows have surged by 3,835%, while outflows have also increased by 5,019%.
This remarkable on-chain activity coincides with a price rebound for Shiba Inu. After several days of decline, SHIB’s price saw a sharp recovery during Friday’s trading session, reaching highs of $0.00001819. At the time of writing, Shiba Inu is sustaining its rebound, trading at $0.00001764, up 2.23% in the last 24 hours.
The broader cryptocurrency market has also experienced an upturn, with Bitcoin surpassing $67,000 for the first time in over a month. Bitcoin’s 6% surge on Friday has helped lift the fortunes of smaller tokens like Shiba Inu and Solana, both of which have risen nearly 5%.
Analysts are closely monitoring Shiba Inu’s key technical levels and trends to determine if the token will continue its upward trajectory or enter a period of consolidation. A sustained breakout above the daily moving averages of 50 and 200 at $0.00001916 and $0.00001974, respectively, could signal a bullish comeback for SHIB. Conversely, if the price slips, intermediate support is expected between $0.0000158 and $0.0000168.
解説
- Shiba Inu’s on-chain metrics show a massive increase in net flows and large holder inflows, indicating strong whale activity.
- The recent price rebound aligns with the broader market recovery, driven by Bitcoin’s surge.
- Key technical levels for SHIB include the daily moving averages at $0.00001916 and $0.00001974, which could indicate further bullish momentum if breached.
- Analysts are watching for sustained growth or potential consolidation based on market sentiment and broader cryptocurrency trends.
- Investors should consider overall market conditions and technical indicators when assessing Shiba Inu’s future price movements.