🚨🚨🚨The sharp rise in trading volume shows that the "whales" in the cryptocurrency space are actively hoarding Shiba Inu! ! ! !
Hopefully, the meme coin can hold the $0.00002 price level as support. These "whales" sold off a large amount of their coins last week when the market crashed.
But now that the market is recovering, it makes sense for them to increase their positions, after all, Shiba Inu Coin may hit new highs in this bull market. Given their market influence, the actions of the "whales" may also cause Shiba Inu Coin to rise sharply.
It is worth mentioning that the positive correlation coefficient between SHIB and Bitcoin prices has risen again, now at 0.79. This is good for the meme coin, because when the flagship cryptocurrency hits new highs, its price may also rise sharply. However, members of the Shiba Inu community are still a little worried, because other on-chain indicators give less optimistic signals.
The network net growth has stopped, indicating that there are not many new investors in the Shiba Inu ecosystem. More than 52% of holders are still losing money, which may slow down the price recovery of memecoin. Once investors who are losing money now get their money back, they will easily sell their coins, which will put more pressure on memecoin to sell.
But then again, the on-chain data also shows that SHIB may still be a good time to buy, especially when so many tokens are still losing money.
