Whales Save SHIB Price as Shiba Inu Skyrockets by 1,590% in Key Metric

Exciting news from the world of Shiba Inu (SHIB) cryptocurrency! There has been a whopping 1,590% surge in large holder inflows, all thanks to the active participation of whales – those big players holding significant amounts of SHIB.

As per the latest insights from IntoTheBlock, the Large Holders Inflow, which monitors funds going into whale addresses, has skyrocketed by 1,590% in the past day. In fact, the figures shot up from 728.17 billion SHIB on May 15 to a whopping 3.97 trillion SHIB on May 16!

Now, what does this surge in Large Holders Inflows imply? Well, it could suggest some significant buying activity, as whales often tend to make their purchases on centralized exchanges first and then move them to cold storage.

Additionally, these surges might signal potential price bottoms, as whale addresses typically bulk up on their purchases post major corrections. Both these scenarios could be playing out as Shiba Inu’s price grapples with crucial resistance levels.

As of now, SHIB has seen a 2.5% dip in the past 24 hours, currently resting at $0.00002472. The past few days have been quite a battle for the SHIB price, with bullish attempts to break through the daily SMA 50 at $0.00002524.

Unfortunately, the bulls’ efforts to breach this key resistance on May 15 fell short, resulting in the SHIB price closing lower. However, they are not giving up just yet, as SHIB’s price managed to climb to highs of $0.00002509.

While the bulls are eager to push the SHIB price upwards, they are also working hard to protect the 56.65 trillion SHIB threshold where the cryptocurrency is currently trading.

Latest findings from IntoTheBlock reveal that 56.65 trillion SHIB are held across 54,280 addresses, ranging from $0.000023 to $0.000026, with an average price of $0.000025.

All eyes are now eagerly watching for Shiba Inu’s next move, particularly in the context of the 56.65 trillion SHIB range and the challenging MA 50 barrier. Will the 1,590% surge in whale inflows impact the SHIB price significantly? Only time will tell!

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