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Shiba Inu (SHIB) is making waves in the crypto market, as large investors return, driving whale inflows up by 206%. This surge is fueling SHIB’s price recovery, signaling renewed market activity and growing investor confidence.
Whale Interest in SHIB Skyrockets
Blockchain analytics firm IntoTheBlock reports that whale transactions in SHIB have surged by 206% in the last 24 hours, reaching 975.96 billion SHIB. This increase highlights the renewed interest of large investors in the popular meme coin and suggests that confidence in the asset is strengthening.
Amid recent crypto market volatility, over $1.4 billion has been liquidated across various assets. However, SHIB’s strong whale accumulation has helped its price climb, reinforcing bullish sentiment among traders.
Bitcoin’s Recovery and SHIB’s Price Movement
Alongside SHIB’s whale-driven momentum, Bitcoin (BTC) has also shown signs of recovery. According to market data, BTC rebounded from $86,200 to $89,000, supporting an overall market uptrend. Similarly, SHIB experienced a 4.14% increase in the last 24 hours, trading at $0.00001431.
Why Are Whales Buying SHIB?
Whale activity is often an indicator of major accumulation phases in the market. Typically, large investors transfer SHIB from centralized exchanges to cold wallets, signaling long-term holding strategies. However, some whales also engage in large-volume trades for short-term gains.
Additionally, a rise in whale inflows can indicate the formation of a price floor, as major investors tend to buy at perceived market bottoms. SHIB’s recent price increase could signify a broader market recovery, attracting further institutional interest.
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