This coincides with massive surge in large holder inflows
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The spike both in large holder inflows and netflows as well as whale activity might indicate that whales may be once again back to accumulating SHIB, reflecting renewed confidence among large holders. While netflows have increased, it is unclear whether this will result in a short-term breakout. In the meantime, traders are intently monitoring resistance levels and market sentiment to predict SHIB's next move. If whale accumulation continues, SHIB could be on the verge of another major price move.At the time of writing, SHIB was up 4% in the last 24 hours to $0.000014 as the broader market continued to recover.
Shiba Inu started rebounding from lows of $0.0000121 on March 4 and would conclude its third day of gains if today concludes in the green. SHIB's price reached intraday highs of $0.0000138; on the upside, SHIB faces its next resistance at the daily SMA 50 at $0.00001679 and then at the daily SMA 200 at $0.0000192. On the downside, SHIB might test support at $0.0000116 if the price declines.
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