Shiba Inu (SHIB) has recently experienced whale activity that has never been seen before in the last 24 hours. A startling 48.48% overnight spike in inflows from significant holders has been reported by the cryptocurrency intelligence service IntoTheBlock, hitting an astounding 7.84 trillion SHIB.
This indicator was at 410.21 billion SHIB just two days earlier, indicating an incredible 1,911.2% growth in the influx of major holdings.
This activity is unique in that there is a concurrent increase in outflows to go along with these significant inflows. A noteworthy 968.24 billion SHIB tokens were issued in the same 24-hour period, indicating a noteworthy 121.62% growth from the day before.
Whales’ massive SHIB hoarding is increasing at the same time as the token’s remarkable price movement. SHIB has increased by about 20% over the last three weeks, and at $0.0000084 cents per SHIB, it is now getting close to a critical level. By passing this barrier, growth may pick up speed and eventually reach $0.00001 and beyond.
Data from the past shows how important this milestone is. When SHIB previously passed this mark from below, back in July, its price shot up 37% in just two weeks.
But the market is still sceptical, wondering if this spike is a real innovation or just a market maker’s charade to get investors to purchase SHIB before of a big rise.
With the price chart acting as the final oracle, the token’s future is now in jeopardy. Only time will tell if Shiba Inu can successfully overcome this significant resistance level or give in to the intricacies of the market, as the SHIB community avidly observes.
