Recently, Shiba Inu has been moving against the bearish trend, particularly with the rising use of the Shibarium Layer 2 network. This recent trend has been particularly notable. When it comes to this particular instance, the bullish return is being driven by substantial holdings. Specifically, these substantial holdings have raised their positive net flows by a factor that is greater than ten on average.
Profitability of Shiba Inu Large Holders Increases by 1079%
The Shiba Inu big holder net flow has witnessed a considerable increase, as reported by the on-chain data tracker known as IntoTheBlock. The net flow of these huge wallets, which is defined as the entire difference between the amount of money coming in and the amount going out, increased by an astounding 1079% beginning on December 10.
The staggering amount of 4.68 trillion SHIB was the entire amount of money that was transferred out of these enormous wallets. It is crucial to note that this is significant when compared to the data from the previous days, which the tracker reveals to be somewhat less than the 287 billion SHIB level.
The fact that these whales are planning to take advantage of the cheap pricing of SHIB is a reasonable explanation for the enormous increase in net flows that has been seen. The price of SHIB continued to trade at a level that was greater than $0.00001 on December 10, which was the same day when the net flows were less than 287 billion.
On the other hand, as the price of SHIB started to fall, the net flows of these huge accounts started to increase. In proportion to the degree to which the price fell, the whales contributed more money to their wallets. This demonstrates a clear intention to amass tokens with the expectation that the price will soon begin to recover again.
Bullish sentiment among SHIB investors is on the rise.
To a certain extent, the decrease in price has, as one might expect, caused investors to lose some of their positive perspective. But it appears that this will only be a temporary situation, particularly when measurements start to move in a positive direction. First among these is the fact that the SHIB burn rate has been increasing over the course of the last day.
Over the course of the past twenty-four hours, the burn rate of the meme currency has increased by 49%, according to data provided by Shibburn. A total of 2.88 billion tokens have been destroyed by the community at this moment, which is the reason for this development. The majority of the time, this occurs when investors anticipate a change in the position of the price.
A neutral level has also been maintained by the Shiba Inu Fear & Greed Index, which is another indicator that has been successful. The fact that this is the case indicates that there is still a significant amount of bullishness remaining after the price decrease. If indicators continue to show signs of improvement, there is a possibility that a recovery may occur in the near future.
