Recent data from IntoTheBlock has revealed a remarkable surge in large holder inflows for Shiba Inu (SHIB). In the last 24 hours, whale inflows have soared by 206%, reaching an astonishing 975.96 billion SHIB. This sudden influx of funds has emerged after a significant market sell-off that wiped out over $1.4 billion in liquidations across the crypto sector.
Price Rebound and Market Sentiment
Following Tuesday’s massive sell-off, overall market sentiment began to stabilize. Bitcoin, for example, recovered from a 24-hour low of $86,200 to near $89,000, while SHIB rebounded, posting a gain of 4.14% in the last 24 hours to trade at $0.00001431. These movements suggest that the recent decline may have led to oversold conditions, potentially setting the stage for a price recovery.
Implications for SHIB
The surge in whale inflows is significant, as it often indicates that large investors are accumulating tokens at price bottoms. Many of these investors typically purchase on centralized exchanges and move their assets into cold storage, signaling a long-term commitment. Such behavior could mean that the current spike in inflows might pave the way for a breakout if sustained buying pressure continues. Traders are now closely monitoring key resistance levels, with the possibility that SHIB may recapture higher price levels if the upward trend persists.
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