According to U.Today, the Shiba Inu (SHIB) cryptocurrency has seen a notable increase in the number of tokens held by large investors over the past 24 hours. Data from IntoTheBlock reveals that the holdings of SHIB by major investors have surged by nearly 600%, rising from 27.06 billion to 161.15 billion tokens. This shift highlights the changing positions of whales and investors who control more than 0.1% of the total supply.
Spikes in net flow typically indicate that significant players are accumulating their positions, while declines suggest reduced holdings or selling activities. However, the current situation is primarily driven by a decrease in the outflows of Shiba Inu tokens from whale wallets, rather than an increase in inflows. This suggests a slowdown in SHIB selling rather than a surge in buying activity. Despite this, the skyrocketing net flow is seen as a positive sign.
In recent days and weeks, SHIB's price action has tested the patience of traders and enthusiasts, characterized by low volatility and a narrow-range sideways performance. This period often sees large players making investment decisions. The surge in net flow indicates that whales are leaning towards a bullish outlook on Shiba Inu, rather than betting on its decline.
