Shiba Inu is once again making headlines, but not due to a price rally or market recovery. This time, it’s the alarming surge in whale activity that has captured attention across the crypto space.

According to recent data, large wallet inflows into SHIB have spiked by over 1,010 percent within one week. This sharp rise comes while the asset’s price continues to fall steadily without signs of recovery.

SHIB is currently trading at a price of about 0.00001167, which is about 25 percent lower than when it peaked in that area this year. Nonetheless, the huge amounts of capital flowing into massive wallets containing SHIB raise concerns regarding the intentions of their investors.

Market indications are still unanimously bearish, as SHIB has fallen under its 50, 100, and 200-day exponential moving averages, indicating further pressure.

In addition, the volume is contracting, implying deteriorating interest amongst retail participants. The RSI levels are also not increasing, which means that the buying momentum is not participating.#IsraelIranConflict #MetaplanetBTCPurchase #MyTradingStyle #GENIUSActPass #DAOBaseAIBinanceTGE