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An alarming pattern in the behavior of major investors regarding popular meme-inspired cryptocurrency Shiba Inu (SHIB) has been revealed in the last 24 hours. Thus, as revealed thanks to data from IntoTheBlock, Shiba Inu's net token flow has dipped into negative territory over the past day, traveling from 205.85 billion SHIB to -155.45 billion SHIB, representing a decline of 361.3 billion tokens.
Arman ShirinyanDigging deeper into the metrics, net outflows totaled 2.83 trillion SHIB during the period under review, a 117% increase. However, the number of inflows also increased, by 77.48%, totaling SHIB 2.68 trillion for the day. Importantly, only addresses that hold at least 0.1% of the circulating supply of Shiba Inu tokens are considered in the calculation of metrics.
Based on the data, one can conclude that the current trend among the majority of large participants, or among a minority of the largest SHIB holders, is to get rid of the tokens in their portfolios.
Shiba Inu (SHIB) price: What's next?
Since the beginning of November, the price of the Shiba Inu token has grown by 41%, and if we take the lows of the month and its highs, it turns out that it has traveled a path of more than 86%.
From this point of view, the behavior of the so-called whales right now signals that they are not in a hurry to buy the token in the first place. That is not to say, however, that the selling trend is also strong.
Gamza KhanzadaevProbably for resumption of some definite behavior and decision-making it is necessary to wait for events on the price chart of the popular meme cryptocurrency first. When the price of SHIB comes to a specific point where it would be possible to make clear investment decisions for big capital, we will see what they choose to do with the token.
Valeria Blokhina
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov