Unexpectedly, following its recent fall just two days ago, the price of the Shiba Inu token has seen a stunning comeback, climbing by over 8%. This curious situation was clarified by the most recent on-chain analytics from IntoTheBlock, which showed a noticeable change in the behaviour of the largest SHIB investors, or “whales.”
The data shows that in the last 48 hours, there has been a startling 50 billion token increase in the net flow of Shiba Inu tokens into the wallets of these powerful holders. This increase stands out since it wasn’t brought on by a sudden rush of additional tokens into the wallets of these important SHIB holders. Surprisingly, this price recovery wasn’t accompanied by any substantial purchasing activity spikes.
An apparent slowing in the flow of Shiba Inu coins leaving whale addresses was the case instead. The relatively modest inflows were successfully compensated by this slowing, which also increased the net flow. This noticeable shift in behaviour shows that substantial SHIB holders have chosen to reduce their selling activity, potentially reflecting a feeling of cautious expectation over the Shiba Inu token’s future price swings.
It is noteworthy that SHIB was able to maintain the $0.000007 per token level during the most recent market collapse. The price of SHIB has a strong support level here because of this zone’s ability to withstand pressure. The token is seen to have the ability to rise further higher as long as it stays above this important level. Whales are presumably also coming to this realisation.
