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Shiba Inu Reversal Imminent? Whales Fuel 207% Accumulation Surge
According to the latest on-chain data from IntoTheBlock, large holder netflows for Shiba Inu (SHIB) have increased by an astonishing 207%, indicating a significant shift in sentiment among whales. This surge in whale activity may indicate that these large holders are positioning themselves ahead of the next major market move.
Shiba Inu’s price has been heavily impacted by recent volatility, plummeting to lows of $0.00001005 on June 22 before rebounding to $0.00001192 on the same day where it encountered resistance. Currently, SHIB is trading in a range between $0.000011 and $0.00001192 since June 24.
While the market awaits macroeconomic triggers for the next major move, whales appear to be fueling an accumulation surge of this magnitude. This phenomenon typically implies that large holders are buying or selling in anticipation of future price movements. The sudden increase in whale activity may signal a potential reversal in SHIB’s price, potentially targeting $0.000023 as support.
Despite this significant accumulation surge, it is essential to keep in mind that the market remains uncertain and awaiting macroeconomic triggers for any further movement.
Source: u.today
