Large investors in the popular meme-inspired Shiba Inu (SHIB) cryptocurrency have added more than 1.12 trillion tokens to their wallets over the past 24 hours, according to data from IntoTheBlock.
According to an analysis of the Large Holder Netflow metric, which tracks cryptocurrency flows to wallets holding at least 0.1% of the circulating supply of Shiba Inu tokens, there was an increase from -951.84 billion SHIB to 174.91 billion SHIB over the past 24 hours.
Thus, we can see an increase of 1.127 trillion Shiba Inu tokens in net flows to the wallets of large investors.
The netflow metric shows how the positions of whales and investors with more than 0.1% of the supply are changing. Basically, spikes in netflow mean that large players are building their positions, while declines indicate that positions are being reduced or sold.
Shiba Inu (SHIB): Price outlook
The spike did not come out of nowhere but at a roller coaster moment on the SHIB price chart. Thus, the price of the Shiba Inu token experienced strong fluctuations during the period under review, falling and rising by 6% during the day. As a result, the SHIB price managed to stabilize at $0.000019.
Related
Whether whales’ activity was the cause of such sharp and wide price fluctuations, or vice versa, is an open question. But the result is the same, and in those 24 hours, the result is the same, and the number of Shiba Inu tokens in the whales’ wallets has increased.