Shiba Inu (SHIB) is back in the spotlight. After several days of uncertainty, large investors are returning to SHIB with astonishing force. Whales have purchased one trillion SHIB tokens, breaking the previous calm. This wave of buying could spark a strong rebound. Let's explore how this development will affect SHIB's future.
Whale activity indicates a market shift
Shiba Inu whales had briefly disappeared, raising concerns among investors. Just four days ago, whale inflows slowed to 163 billion tokens, sparking worries about them cashing out. However, the situation quickly changed. Now, whales have made a strong comeback, accumulating an astonishing 1.04 trillion SHIB tokens. Such a remarkable return indicates that large investors have sniffed out an opportunity and are taking swift action.
Observing net flow data provides a clearer picture. Recently, whales have sold 768 billion SHIB, but at the same time, there was a net inflow of 266 billion. In short, the amount of SHIB bought by these major players exceeds the amount sold. Demand is outpacing supply, painting an optimistic picture for SHIB's future. This buying frenzy is not limited to whales. Retail investors are also joining in, pushing the spot market into an upward range.
Buyers purchased 338.28 billion SHIB, while sellers sold 326 billion. This imbalance indicates that buying pressure is overwhelming selling activity, further suggesting that the market currently favors SHIB. CryptoQuantExchange Netflow data confirms this surge. SHIB has seen massive outflows from exchanges for two consecutive days. During this period, over 372 billion tokens left exchanges, reducing the available supply of the meme coin.
What does this mean for SHIB's price?
Recent accumulation has influenced SHIB's price trajectory. After dipping to $0.00001388, the meme coin rebounded to $0.00001492. This mild rebound suggests that investor sentiment is shifting towards optimism. If this accumulation momentum continues, SHIB may soon return to $0.0000158. Breaking through this resistance level could bring greater gains.
Breaking above $0.0000158, SHIB could rise to $0.000017. The market is watching closely, and if buyers continue to dominate, momentum could ramp up quickly. On the other hand, SHIB remains vulnerable. The return of sell pressure could pull SHIB back to $0.0000138. Market volatility can be swift, so investors should stay alert.
Overall, the massive buying by whales indicates a renewed market confidence in Shiba Inu (SHIB). This shift in market sentiment often triggers price fluctuations. Whether this marks the beginning of a new rally or a short-lived spike, SHIB is undoubtedly back in the spotlight. Currently, as SHIB's scarcity continues to rise and buyers dominate, increasing holdings of SHIB seems like a wise move.
