Shiba Inu (SHIB) experiences a significant surge in large holder netflows, indicating potential accumulation and a possible bullish reversal. The coin rebounds after a recent sell-off, fueled by positive on-chain activity and a partnership with the UAE's Ministry of Energy and Infrastructure.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Shiba Inu (SHIB) has witnessed a remarkable 5,277% surge in large holder netflows, signaling a potential shift in market sentiment. After days of stagnation, whale netflows surged from 128.59 billion SHIB to a staggering 3.5 trillion SHIB on February 7th. This sudden influx of SHIB into large holder wallets often indicates increased accumulation and can be interpreted as a positive sign, especially if sustained.This spike in large holder netflows coincides with a significant increase in large holder inflows, with 3.8 trillion SHIB recorded in the last 24 hours, contributing to an 892% surge in the week. Meanwhile, large holder outflows have declined during this period, suggesting that whales might be deliberate in their actions. The recent on-chain activity suggests considerable buying pressure building up. This is evident as many of these large addresses purchase SHIB on centralized exchanges before transferring their holdings to cold storage. Such surges in large holder inflows can also foreshadow price bottoms because large addresses tend to buy in bulk after substantial price drops.These developments come as Shiba Inu faced a sell-off earlier this week, dropping to lows of $0.00001160 on February 3rd. Looking ahead, the market will be closely watching SHIB to see if it can sustain this positive whale trend and potentially initiate a bullish price reversal if market conditions improve.Shiba Inu reversed early losses on Friday, capitalizing on the cryptocurrency market's recovery after January job growth in the United States fell short of expectations. Shiba Inu rebounded from lows of $0.00001462 on Friday to end the day in green. This positive momentum has continued, with Shiba Inu up 1.43% in the last 24 hours to $0.00001535 at press time. Adding to the bullish outlook, Shiba Inu announced this week a partnership with the UAE's Ministry of Energy and Infrastructure (MoEI) to leverage blockchain technologies in various public services. MoEI aims to integrate blockchain-based programs and applications into government services using Shiba Inu's Operating System (ShibOS), built on their Layer-2 blockchain.
SHIB Shiba Inu Whales Netflows Accumulation Price Rebound Blockchain UAE Moei Cryptocurrency Market
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