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Shiba Inu (SHIB) Netflows Skyrocket 1445%, Bigger Move Coming?
A remarkable surge in Shiba Inu’s netflows has left the cryptocurrency community reeling. The massive spike in whales’ activity, which reached an astonishing 1,445% increase, has raised questions about what this means for the SHIB price.
According to recent data, it appears that Shiba Inu whales have made a move of 2.79 trillion SHIB, sending shockwaves throughout the crypto market. This massive influx of liquidity could be a turning point in the SHIB’s trajectory, as bulls look to break past key resistance levels and continue their upward momentum.
For now, Shiba Inu’s recovery has stalled at $0.000024, with bears looking for a chance to reassert themselves. However, any attempt to break below this level could trigger a swift rebound, potentially sending the price towards the next crucial barrier at $0.0000256. This is where the daily SMA 50 will be waiting, ready to test the SHIB’s resolve.
If the bulls are successful in their quest for more ground, they may find resistance at $0.00003 and possibly even at $0.000033. However, it’s essential to remember that this would largely depend on broader crypto market sentiment and investor appetite.
Meanwhile, support is expected to hold at around $0.0000185, just below the daily SMA 200. In the event of a downward correction, this could be the level where whales decide to swoop in and defend their investment.
As we move forward, it remains unclear whether this surge in netflows will directly translate into a price increase for SHIB holders. Nonetheless, the current sentiment surrounding this cryptocurrency warrants close attention as potential market-moving events unfold.
In conclusion, Shiba Inu’s recent developments are too complex to be simply explained by one single metric like whale activity.
Source: u.today
