Shiba

Shiba Inu

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Dog-themed cryptocurrency <a href="https://u.today/crucial-airdrop-warning-issued-to-shiba-inu-shib-community">Shiba Inu (SHIB)</a>&nbsp;has seen a 1,590% surge in large holder inflows, thanks to significant activity from whales,&nbsp;which are&nbsp;individuals or entities holding substantial amounts of SHIB.
According to <a href="//app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all">IntoTheBlock</a> data, Large Holders Inflow,&nbsp;which&nbsp;tracks the funds going into addresses belonging to whales or large&nbsp;holders,&nbsp;is up 1,590%, owing to a significant surge in the last 24 hours.&nbsp;Notably,&nbsp;large holder inflows increased from 728.17 billion SHIB on May 15 to 3.97 trillion SHIB on May 16.&nbsp;
Spike in Large Holders Inflows often suggests two things. The&nbsp;first is that considerable buying activity may be taking place. Many&nbsp;whale addresses typically buy on centralized exchanges and&nbsp;subsequently&nbsp;shift their purchases into cold storage.
Second, spikes in large holder inflows can indicate price bottoms because whale addresses prefer to buy in bulk after significant corrections. Both&nbsp;scenarios might be likely as Shiba Inu's price battles key resistance.
At the time of writing, SHIB was down 2.5% in the last 24 hours to $0.00002472. The&nbsp;last three days have been a battle for the SHIB price, with bulls persistently attempting to surpass the daily SMA 50 at $0.00002524.
Shiba Inu bulls' attempts to break through this crucial resistance on May 15 were unsuccessful, with the SHIB price closing lower. Bulls&nbsp;are still making another try, with SHIB's price reaching intraday highs of $0.00002509.
While bulls are in a bid to push the SHIB price higher, they are also making frantic moves to save the 56.65 trillion SHIB level where the cryptocurrency currently trades.
According to <a href="//app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all">IntoTheBlock</a> data, 56.65 trillion SHIB are being held by 54,280 addresses in the range of $0.000023 to $0.000026 at an average price of $0.000025.
That said,&nbsp;eyes&nbsp;are peeled&nbsp;on Shiba Inu's next price direction in the context of the 56.55 trillion SHIB range and a break above the&nbsp;tough&nbsp;MA 50 barrier.&nbsp;Whether&nbsp;the 1,590% surge in whale inflows will impact the SHIB price remains to be seen.

Shiba Inu Skyrockets 1,590% in Key Metric as Whales Dive in to Save SHIB Price

U_Today

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