The post Shiba Inu Inflows Skyrockets 553% as SHIB Price Rebounds 7% 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) shows signs of rebounding following a sharp sell-off in Monday’s trading session. SHIB has recovered 7% in the last 24 hours, coinciding with a massive 553% increase in large holder inflows, which refers to funds entering into whale addresses. According to IntoTheBlock data, Shiba Inu saw a sharp spike in large holder inflows, skyrocketing from 1.27 trillion SHIB on Feb. 2 to 6.51 trillion SHIB on Feb. 3. Large Holders Inflow, Courtesy: IntoTheBlock The surge in large holder inflows suggests that whales might be moving funds into SHIB, possibly in anticipation of dip buying. This comes amid the recent crypto market sell-off, which saw meme coins lose considerable value. Bitcoin fell below $91,000 in the early hours of Monday, causing fear and resulting in large liquidations at the highest levels in six months. Open interest, which represents futures contracts on exchanges, consequently fell to its lowest level since Nov. 11, 2024. Related The crypto market’s total value slid by about $360 billion at one point on Monday, according to CoinGecko data. Large dips, while seemingly paradoxical, are really beneficial to cryptocurrency markets in the long run. Drops help to decrease market excess, flush out weak hands and create a more stable platform for future price increases. Large sell-offs from liquidations frequently drive…

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Filed under: News - @ February 4, 2025 12:27 pm