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Shiba Inu (SHIB), the second largest dog-themed cryptocurrency by market capitalization, is experiencing a significant surge in large holder netflows, coinciding with the selling pressure currently sweeping through the broader crypto market.
On-chain data from IntoTheBlock reveals that Shiba Inu's large holder net flows have surged by a staggering 1,245%, albeit a negative surge.
Large Holders Netflow provides an idea of the change in positions of whales, and spikes in netflow can be seen as accumulation from large players, while drops point to reduced positions, or selling.
In the case of Shiba Inu, the negative 1,245% surge in netflows might imply selling activity.
The cryptocurrency market is experiencing losses, and Shiba Inu (SHIB) is no exception. Bitcoin fell to lows of $66,431 in yesterday's trading session after reaching $70,000 earlier after the U.S. Government moved $2 billion "Silk Road" tokens.
Bitcoin's selloff impacted the rest of the cryptocurrency market, with several tokens sustaining losses at press time. Shiba Inu was down 2.69% in the last 24 hours to $0.00001678. According to CoinGlass data, the previous 24 hours saw $168.67 million in liquidations across the entire market.
Shibarium welcomes AI-powered governance
In a remarkable milestone, Shiba Inu layer-2 solution Shibarium will benefit from AI-powered governance via its latest integration with Bad Idea AI.
Bad Idea AI brings AI-powered governance to Shibarium, and its integration addresses DeFi concerns such as security, efficiency and user experience, resulting in major benefits for the Shiba Inu community.
Bad Idea AI's AI-powered governance will analyze data, evaluate risks and develop strategies. The multi-signature veto power assures that critical decisions require approval from many human signatories, resulting in a balanced and secure decision-making process.
Dan Burgin
U.Today Editorial Team
