#BinanceGift
Shiba Inu Eyes Monthly High as Large Holders Increase Their Accumulation
SHIB's large holders increased their netflow by 16%, signaling confidence in its future value.
Reduced selling due to fear of losses contributes to SHIB's price stability and recent rally.
SHIB could breach $0.000026, but profit-taking may trigger a decline to $0.000021.
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Shiba Inu Eyes Monthly High as Large Holders Increase Their Accumulation
Leading meme coin Shiba Inu (SHIB) has seen a steady price climb over the past week. This price growth has been fueled by accumulation by its large holders, commonly known as whales.
This consistent buying pressure has positioned SHIB for further potential gains, with the coin now eyeing a monthly high.
Shiba Inu’s Reduced Selling and Whale Interest Fuel Rally
According to IntoTheBlock, SHIB has noted a 16% rise in its large holders’ netflow over the past week. These are whale addresses that hold more than 0.1% of the meme coin’s circulating supply. Their netflow tracks the difference between the coins they buy and the amount they sell over a specific period.
When large holders’ netflow increases for an asset, it means that more tokens flow into the wallets of major investors or institutions than flow out. This trend indicates that these holders are accumulating the asset, signaling confidence in its future value.
