Shiba

Accumulate

Shiba Inu

<p><strong>After a prolonged absence, whales may be returning to purchase battered meme token Shiba Inu in a potentially bullish sign of renewed conviction, <a href="https://x.com/0xNerdBot/status/1709475036229431414?s=20" target="_blank" rel="nofollow">according </a>to on-chain analytics service NerdBot.</strong></p> 
<p>Analysis identified fresh wallet clusters accumulating SHIB over recent days, breaking a months-long streak of distribution by large holders. This uptick in acquisitions among newer money indicates a shift in big-player sentiment.</p> 
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<p>Notably, an anonymous whale known as 0xb75 withdrew nearly $2.13 million worth of SHIB from Coinbase across three transactions in the past few weeks. Such large-scale movements to self-custody wallets often precede long-term holds.</p> 
<p>The on-chain activity comes as SHIB hovers near all-time lows, declining over 85% from its peak. But historically, extended bear markets eventually entice opportunistic whales to build positions in discounted assets.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="576" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-1024x576.png" alt="" class="wp-image-348514" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-1024x576.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-768x432.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-1536x864.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-2048x1152.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-622x350.png 622w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-76.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>While still early, the recent data may suggest a slow pivot toward this accumulation phase for SHIB as deep pessimism dissuades weaker hands. If renewed whale interest persists, it could precede a broader change in trend.</p> 
<p>Of course, short-term volatility remains likely as whales test support levels with market sales. But their renewed participation provides a glimmer of positive momentum after SHIB’s brutal selloff.</p> 
<p>Ultimately, if major holders sustain accumulation, it validates SHIB’s lingering appeal and signals potential bargain-hunting among savvy traders during extreme fear conditions.</p> 
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<p>The post <a rel="nofollow" href="https://captainaltcoin.com/on-chain-activity-hints-at-growing-appetite-for-shiba-inu-are-whales-starting-to-finally-accumulate-shib/">On-chain Activity Hints at Growing Appetite for Shiba Inu, Are Whales Starting to Finally Accumulate SHIB?</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

On-chain Activity Hints at Growing Appetite for Shiba Inu, Are Whales Starting to Finally Accumulate SHIB?

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