Shiba Inu (SHIB) On-chain Flows Skyrocket by 1,170%, Here's What's Driving It

Since start of week, SHIB has seen significant token movements

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Shiba Inu is showing a 1,172% spike in large holders' inflows — an indicator that tracks the funds going into addresses belonging to whales, or large holders. Increases in large-holder inflows can often suggest one of two things. First, strong buying activity might be taking place. This might be the case, as large holders buy on centralized exchanges and then transfer their purchases into cold storage.

Second, spikes in large holders' inflows can point to bottoms in price as whale addresses tend to buy in enormous quantities following significant corrections.The second scenario might be the case, as Shiba Inu is down 2.60% in the last 24 hours to $0.00000769. After a significant rise in the past week, Shiba Inu has seen profit-taking since the start of the week. If today ends in losses, SHIB might close its third day in red.has seen significant token movements.

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