According to data from IntoTheBlock, the cryptocurrency Shiba Inu (SHIB) has seen a massive 1,194% surge in inflows from large holders.

The Large Holder Inflow indicator tracks the inflow of funds into addresses belonging to whales or significant holders. In the past 24 hours, the inflow of funds from large holders has surged from 569 billion to a staggering 2.37 trillion SHIB.

Impact of increased inflows from major shareholders

The large increase in inflows from large holders could indicate strong buying activity within the Shiba Inu ecosystem. This correlation is consistent with the price increase observed by SHIB in the last 24 hours.

Currently, SHIB has surged to $0.00001083, which is a noteworthy achievement considering the losses faced by several other cryptocurrencies during the same period.

Additionally, SHIB has gained 7.5% in the past 24 hours and 19% in the past seven days, according to CoinMarketCap, indicating increased investor interest.

It should also be noted that previous Shiba Inu price increases have been accompanied by a large number of large transactions.

Shiba Inu (SHIB) Large Transactions Surge

Large transactions have surged by 98.91% to $41.49 million over the past 24 hours. Large transactions (typically over $100,000) provide insight into whale behavior and indicate significant buying and selling activity by such holders. A significant rise in this metric suggests significant changes within the Shiba Inu ecosystem.