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In a startling turn of events, Shiba Inu, the meme-inspired cryptocurrency, witnessed an unprecedented surge of 4.8 trillion SHIB flowing into the wallets of large holders, commonly known as whales, within the last 24 hours.
This surge, revealed by on-chain data from the Large Holders Inflow metric provided by IntoTheBlock, marks a staggering 375% increase compared to the previous day.
Analyzing the movement of Shiba Inu tokens, it is crucial to note that only addresses holding at least 0.1% of the current Shiba Inu supply are considered in the calculations, as per IntoTheBlock's methodology.
Simultaneously, the Large Holders Outflow, which measures the departure of Shiba Inu tokens from these significant addresses, exhibited a contrasting trend. The outflow decreased to 835.93 billion SHIB in the past 24 hours, representing a substantial 60.4% decline from the preceding day.
This intricate dance of token movement led to the Large Holders Netflow for Shiba Inu surging back into positive territory at 3.97 trillion SHIB. Notably, the metric had briefly dipped into negative territory at -831.71 billion tokens just a day earlier.
Major SHIB announcement on the way
In the backdrop of Shiba Inu's current price action, it appears that major token holders are strategically accumulating substantial volumes. However, this doesn't necessarily imply an immediate anticipation of growth.
Instead, one may suggest that the current price level offers these whales a favorable entry point, characterized by acceptable risk and comprehensibility.
Adding to the intrigue, the Shiba Inu community anticipates a significant announcement from the project's development team later this week. Speculations abound that this surge in whale activity could be tied to insider knowledge or strategic positioning in anticipation of the impending announcement.
Arman Shirinyan
Godfrey Benjamin
