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Shiba Inu (SHIB) holders have witnessed a significant shift in whale activity, with major netflow surging 2,944% in the past 24 hours. The sudden spike suggests increased confidence among large holders, raising anticipation of a potential price rally for the meme-inspired cryptocurrency.
SHIB Whale Activity Surges 2,944%, Fueling Speculation
According to data from IntoTheBlock, the number of major holders' netflow has increased by more than 2,944% in the previous 24 hours, suggesting that something fascinating is about to happen in the next days regarding the famous meme-inspired cryptocurrency Shiba Inu (SHIB).
There was a total of 322.7 billion SHIB, or Shiba Inu tokens, deposited into the whale's wallet. This is in contrast to yesterday's -10.96 billion SHIB.
Whale Sentiment Turns Bullish
The volume of token transactions has not only increased dramatically, but it has also become positive, indicating that the whales' sentiment has shifted to one of bullishness and that they have begun to stockpile. That is borne up by the special inflow statistic, which hit an all-time high of 2.67 trillion SHIB during the review period, with outflows coming in slightly behind at 2.35 trillion SHIB.
Price increases for the widely used meme coin are undoubtedly the cause of the upswing. Alternately, its profile is improving. After reversing a six-month decline, the Shiba Inu price surged by more than 40%, reaching a peak of $0.0000217.
Price Volatility and Recovery
Since then, SHIB's price has fallen precipitously, reaching a low of 19% yesterday before swiftly recovering thanks to purchasers who took advantage of the price discrepancy and sent it 6% higher.
This is likely what the on-chain statistics show when this price action meets the movements of whales, as explained by U.Today.
Healthy Correction Prepares SHIB for Next Surge
Since only one-third of the September pump has been lost, the correction in SHIB is now considered as healthy. With the removal of latecomers and superfluous passengers, the Shiba Inu token can now rise.
