When it comes to the Shiba Inu cryptocurrency, SHIB, bulls appear to be overtaking bears as the market leader. Looking at data from the bitcoin intelligence platform IntoTheBlock leads to that conclusion.
These numbers show that over the previous week, big investors acquired 200 billion more SHIB tokens than they sold. This group of cryptocurrency market traders collectively controlled 14.7 trillion Shiba Inu tokens for the whole week.
But, as of right now, bears outnumber bulls in terms of addresses: 128 to 126. Yet, if you examine the dynamics, you can see that there are more buyers now than there were last week, when there was a 10-address discrepancy. As a reminder, the IntoTheBlock algorithm only considers addresses that account for at least 1% of the total trading volume of the coin.
No more zeros
Major players’ attitudes changed at the same time as the SHIB price plummeted more than 10% in the previous seven days, the greatest intraweek decline since late February.
While examining the Shiba Inu token’s price chart, it is evident that a buyer entered at the $0.00001 level. Bulls then started to repurchase the token, stopping its price from increasing by another zero.
