Dog-themed cryptocurrency. Shiba Inu has sparked an on-chain rise as whales exhibit fascinating behaviour.
According to IntoTheBlock statistics, Shiba Inu has seen a significant jump in netflows, with major holders’ net flows increasing by +1708.21%.
The Large Holders Netflow from IntoTheBlock data gives insight into whale position changes. Netflow spikes can be interpreted as accumulation from significant players, whilst dips suggest reduced holdings or selling.
In this circumstance, accumulation is more plausible, as SHIB’s price increased in the previous 24 hours, trading at $0.0000096 at press time.
Shiba Inu is up 9% weekly as bulls attempt to remove a zero off its price. However, SHIB is seeing a rise in outflows, which might be beneficial or detrimental.
According to IntoTheBlock statistics, significant holders’ outflows, which track assets leaving addresses belonging to whales or investors, increased by 640%.
Spikes in outflows can signal two things: first, selling from whale addresses; and second, withdrawals from exchanges, which are net positive since it may reflect that these addresses are ready to store their assets for a much longer period of time rather than selling them by moving them to cold storage.
In related news, the Shiba Inu community is abuzz with Valentine’s Day anticipation. While the suspense continues, Lucie, a SHIB team member, clarifies Sheboshis, the female equivalent of Shiboshis, whose release is near.
https://x.com/woofswap/status/1757681458460909913?s=20
Lucie stated that Sheboshis were first introduced officially during the Eth Conference in August 2023. However, their first appearance on the Shiba Inu team goes back to February 2023. She adds that Sheboshis have yet to be launched, and the debut will be a one-of-a-kind event.
