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Popular meme inspired Shiba Inu (SHIB) The cryptocurrency saw activity worth nearly 500 billion coins on behalf of its largest investors, according to data from IntoTheBlock.
In particular, the large on-chain master holder flow metric, which tracks the movement of those holding at least 0.1% of the circulating Shiba Inu token supply, has seen a stunning spike in the past 24 hours, with the number of SHIB inflows to such wallets nearly doubling to To 492.81 billion shekels.
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Meanwhile, total outflows from these portfolios amounted to NIS 382.94 billion during the same period. Currently, SHIB's total net inflow is 109.87 billion coins, which is in stark contrast to the negative net inflow observed the past day.
Given that these wallets belong to real Shiba Inu whales, and not exchanges, which is likely, this could mean that large investors were mostly buying the meme coin yesterday.
Shiba Inu (SHIB) price raises bull flag
Since whales absorb SHIB en masse, it is interesting to see what prompted them to do so. The answers can be found in the price chart Shiba Inu symbol.
As such, the meme cryptocurrency continues to form what could be a bull flag pattern. Although the price Gray The stock price has been declining for the past four days, has not seen any quick sell-offs, and given that it rose 20% in two days before the decline began, it can be considered a correction before price growth resumes.
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If this works and the pattern is confirmed, SHIB price could rise to $0.00003 and above, which may explain why whales are leaning to the upside at the moment.
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