Whale Excitement Pushes Shiba Inu (SHIB) to New Heights

The Shiba Inu (SHIB) cryptocurrency, which was inspired by a popular cartoon, is making news once again, this time with a spectacular surge in a critical on-chain statistic that is more than fivefold higher than before.

Shiba Inu (SHIB) price has seen a remarkable 540% surge in whale activity within 24 hours, with large holders moving 767.33 billion SHIB into wallets. This unprecedented surge in whale activity signals heightened interest from key investors, boosting speculation about the token's future price movement.

Whale Excitement Pushes Shiba Inu to New Heights

The Shiba Inu (SHIB) cryptocurrency, inspired by a popular cartoon, is making headlines again with a spectacular surge in a critical on-chain metric, rising by more than five times over the previous day.

540% Spike in Netflow Reflects Growing Whale Interest

According to IntoTheBlock, the digital asset with the thirteenth largest capitalization has seen a surge in whale enthusiasm over the past twenty-four hours, which is directly reflected in a 540% spike in the netflow of large holders.

Specifically, the netflow surged from -48.1 billion SHIB to 265 billion overnight, marking the highest it has been in the past week. Delving deeper, this sum of large holder flows consists of 767.33 billion SHIB inflows and 502.33 billion SHIB outflows.

Inflows Surge 50%, Outflows Drop 10%

It's also crucial to note that during the twenty-four-hour period, the inflows surged by more than fifty percent, while the outflows decreased by ten percent, as noted by U.Today.

Large Holders Continue Accumulating SHIB

Previously, there have been reports of such a whale, where an anonymous large holder moved over $1 million in SHIB from Coinbase, the largest U.S.-based exchange, in less than twenty-four hours.

Evidently, he was not alone in accumulating the popular meme cryptocurrency, as this pattern was prevalent among large holders. It remains to be seen whether this trend will continue and how it will manifest on the Shiba Inu token's price chart.

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