724% Surge Sparks Major Move Speculation
The post 724% Surge Sparks Major Move Speculation appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Dog-themed cryptocurrency Shiba Inu (SHIB) has recently seen an increase in large holder netflows, according to IntoTheBlock data, skyrocketing by 724% in the week. Contributing to this increase is a surge in Shiba Inu’s large holder netflows from -400.59 billion SHIB on Jan. 21 to 665.28 billion SHIB on Jan. 22. Negative netflows indicate selling while positive increase in netflows suggests accumulation. The change from negative to positive net flows in the week might suggest a shift or reversal from net selling to accumulation. The recent positive sentiment in the broader cryptocurrency market may be driving whales to increase their holdings across various crypto assets. Bullish expectations and market optimism often spur large holders or whales to make significant moves. Whales often accumulate large amounts of cryptocurrency when they believe the asset is undervalued or has growth potential. The recent increase in net flows could indicate that whales might be anticipating a major move for Shiba Inu’s price amid its current consolidation. In addition, the anticipation of impending Shiba Inu developments or announcements may be driving the increase in netflows. Related Toward the weekend, Astra Nova and Shiba Inu revealed details of their partnership, paving the way for a new AI survivor mode, SHIB token burns and a new era in crypto gaming. An interesting detail of…
Filed under: News - @ January 26, 2025 9:20 am