Shiba Inu has seen spike in large-holder netflows, suggesting accumulation
The large transaction volume marks the total amount exchanged by whales on a specific day, and large transactions in this context refer to those above $100,000.As the Shiba Inu price aims for its next major move after a period of decline running into weeks, Shiba Inu whales, or large holders, may be seen accumulating. A spike in large holders' netflow in the last seven days might point to this.
At the time of writing, SHIB was marginally down 0.23% in the last 24 hours to $0.00000723. Shiba Inu started a decline after touching highs of $0.0000113 on Aug. 12.Consequently, Shiba Inu lost its key moving averages of 50 and 200, located at $0.00000845 and $0.00000913, below which it trades presently.
After days ran into weeks of price stagnation, Shiba Inu bottomed at lows of $0.00000696 on Sept. 11, where it started to move.hit intraday highs of $0.00000728 in today's session; now, the next target if the upside move is sustained would be $0.00000779, ahead of the daily MA 50 at $0.00000844. That said, a break above the moving averages may kickstart a new uptrend for Shiba Inu. Further declines might push SHIB to mark a bullish double bottom if it falls to $0.0000064.
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