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Shiba Inu (SHIB) Witnesses Unusual 2,300% Increase in Whale Activity

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Sun, 22/10/2023 - 12:45
Shiba Inu (SHIB) Witnesses Unusual 2,300% Increase in Whale Activity
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In the past 48 hours, Shiba Inu (SHIB) has been at the center of unprecedented whale activity, as data from the crypto intelligence portal IntoTheBlock reveals an astounding surge in the movement of tokens among major holders.

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With an influx of more than 4.52 trillion SHIB tokens, the rate of Shiba Inu tokens flowing into the wallets of major holders has remained consistently high for two consecutive days, marking an astonishing 2,300% increase from Friday through Sunday.

Conversely, a substantial outflow of Shiba Inu tokens from the same addresses has been observed, gradually decreasing to a level of 29.13 billion SHIB. Notably, just two days ago on Friday, this figure stood much higher at approximately 281.83 billion SHIB.

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Source: IntoTheBlock

The key question that emerges from this remarkable activity is, where do things currently stand? Major holders appear to be amassing Shiba Inu tokens on an unprecedented scale, while the outflow from their wallets is steadily diminishing.

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This intriguing development raises speculation about the possibility of a significant SHIB price rally in the near future. Whether major holders are positioning themselves for a bullish run remains a subject of keen interest and anticipation in the SHIB community.

The crypto market is no stranger to rapid fluctuations, but the intensity of the recent activity surrounding Shiba Inu certainly demands close attention.

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