Early on Saturday, Shiba Inu saw a sharp increase in activity, hitting intraday highs of $0.00000966 at this writing.
The rally built on bulls’ advance the day before, when Shiba Inu broke over the daily MA 200 barrier at $0.00000805, which had been preventing the price increase of the stock throughout the previous week.
While bulls’ next aim remains at $0.00001134, Shiba Inu’s price may be headed to erase a zero as it attempts to turn this much-discussed obstacle into support.
This week has seen a significant influx of Shiba Inus, especially from whales and huge holdings. Shiba Inu is seeing a 627% spike in major holder inflows in this regard and time range, according to statistics from IntoTheBlock.
Funds entering whales’ addresses are tracked by Large Holders Inflow, which may point to substantial purchasing activity. Because whales like to purchase in bulk following major corrections, spikes in large-holder inflows can signal price bottoms.
At the time of writing, SHIB’s price was up 13.39% in the previous day to $0.00000947, indicating that it was responding favourably to the big holder inflow increase.
Shiba Inu marked new achievements this week
This week, Shiba Inu unveiled The Shib Magazine’s inaugural edition to the public. As a lovely bonus for early subscribers, 1,000 free NFTs of the cover were also given out.
The weekly Shib Magazine would provide as a user’s entry point to cutting-edge concepts, the newest advancements, and intriguing news from the Shibarium ecosystem and beyond.
The Shiba Inu team also revealed some exciting news about the SHIB wallet: it now has a brand-new functionality that makes it easier for users to retrieve their wallets even in the event that they misplace their seed words.
Web3Auth has also been integrated into the Shib platform, simplifying and easing the user onboarding process.
