š Summary: 249% OnāChain Surge ā Are #shibaā” Whales Awakening?
Recent on-chain data highlights a dramatic surge in Shiba Inu (SHIB) whale activity, raising questions about what it means for the token's prospects:
š Exchange Reserves Dry Up SHIB balances on major exchanges have dropped significantly, suggesting whales are withdrawing tokensāoften a bullish signal as supply tightens.
ā¬ļø Massive Whale Transfers
šA recent peak reached $97 million in transactions over $100K (~7.5 trillion SHIB).
š IntoTheBlock reports show large transaction volume up 72.5% (to $20.85M) and net flows rising nearly 800%, indicating active accumulation.
š Accumulation vs Sell-Off
These shiftsāwithdrawals, surging transfers, and net inflowsāsuggest whales are accumulating, potentially preparing for price movement, though some remain cautious, waiting to see if trends sustain.
š Implications:
š Bullish Signal: Reduced exchange supply + whale accumulation could spark a supply crunch, boosting prices.
š Next Moves: Traders should watch whale flow trends continued accumulation may precede a rally; reversal could signal profit-taking.
Ā š„ Bottom Line: A 249% surge in on-chain whale activity marks a pivotal moment for SHIB. If whales are truly accumulating, that could set the stage for meaningful price action.
šCryptocurrency investments carry risks. Therefore, this is not financial advice (No BSH recommendation). Hence please do your own research (DYOR) before making investment decisions.
