According to IntoTheBlock data, Shiba Inu's large holders' inflow has jumped a staggering 1,194%.The Large Holders Inflow metric from IntoTheBlock tracks funds flowing into addresses belonging to whales, or large holders.
That said, the last 24 hours saw a staggering rise in large holder inflows from 569 billion to 2.37 trillion SHIB.
A substantial increase in large-holder inflows may indicate that strong buying activity is taking place. This is possible, as Shiba Inu has seen price increases in the last 24 hours.
At the time of writing, SHIB was up nearly 3.1% in the last 24 hours to $0.00001016; this is significant as several cryptocurrencies saw losses in the past day.
The SHIB token is likewise up 20% in the last seven days. This comes as SHIB prepares to mark its fourth day of gains since Aug. 8.
Shiba Inu price increases have always coincided with a significant number of large transactions. This time is no different, as the last 24 hours saw a remarkable 98.91% rise in large transaction volume, which came in at $41.49 million for the last 24 hours.
Large transactions, which are often more than $100,000, often give an inkling of whales' actions, and a spike in this metric might be due to a large quantity of buying or selling by this category of holders.
Shiba Inu token LEASH on impressive rise
Shiba Inu ecosystem token Doge Killer (LEASH) is presently mirroring SHIB's current price moves with an 8% rise in the last 24 hours.
At the time of writing, LEASH was going for $583. The token is likewise up 18.31% in the last seven days, in line with the Shiba Inu price gain.
Expectations are currently building in the Shiba Inu community, as exciting news remains on the horizon. Shiba Inu lead Shytoshi Kusama has teased three new partnerships that are coming soon for Shiba Inu.
Shiba Inu has also begun a countdown for the Blockchain Futurist Conference scheduled for Aug. 15–16, of which it is a title sponsor.