- Shiba Inu has experienced a notable increase in large-holder inflows, despite a declining price in the wider crypto market.
- On October 7, whale inflows for SHIB were at 169 billion, and on October 8, they surged to nearly 3 trillion, marking a 1,587% spike.
- Large inflows can indicate accumulation and potential market bottoms as major players buy during dips.
Shiba Inu is registering a surprising surge in large-holder inflows even as its price declines amid a wider crypto market selloff. According to on-chain analytics firm IntoTheBlock, SHIB saw whale inflows explode from 169 billion on October 7 to nearly 3 trillion on October 8—a 1,587% spike.
Large inflows can signal accumulation and potential bottoms as bigger players buy the dip in bulk. This metric rose when SHIB’s price fell around 4%, bucking expectations. Santiment noted high trader loss-taking and mild panic recently, often precursors to capitulation bottoms.
Shiba Inu trades in the red
Shiba Inu, trading at $0.0000006898, remains down nearly 4.2% in 24 hours amid bearish sentiment. But its network activity hints at the potential for a bullish reversal.
Crypto’s inherent volatility means bear markets do not last forever. If SHIB can reclaim key moving averages around $0.0000075 and $0.0000086, it may confirm a comeback.
For now, whales appear to be positioning amidst the sell-off. Their inflow spike offers a silver lining as overall markets feel pressure. If crypto stages a relief rally, SHIB could already be primed for outsized gains.
As usual in crypto, price and on-chain data diverge in interpreting market bottoms. But the surprising whale activity provides nuance to SHIB’s bearish price action. Savvy traders should watch for confirmation of accumulation kicking off a recovery.