150% Rise in Shiba Inu Inflows and Outflows: Impact on SHIB’s Price?

shiba inu

Shiba Inu has seen a surge in activity from large holders in its ecosystem. In the last week, both inflows and outflows have risen over 150%, indicating increased buying and faster selling rates. 

Inflow-related transactions have increased by 150%, and outflow-related transactions by 165%. However, the tokens purchased had a larger quantity and weight, resulting in a positive net-flow figure.

The net-flow curve of Shiba Inu’s large holders has been steadily rising, indicating a buy-bias is forming. This is a crucial condition for a trend reversal. Currently, the net flow represents 118.7 billion SHIB tokens.

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Is Shiba Inu Facing Obstacles Ahead?

With the stars gradually aligning in favor of SHIB, can the token overcome its ongoing downtrend and experience a recovery rally in the near future?

Currently, there is significant resistance at SHIB’s current price level, with close to 250k addresses holding 263 trillion SHIB tokens in the range between $0.00001 and $0.000014. 

If SHIB’s price rises and these holders break even, they may sell, adding bearish pressure to the price and limiting further upward movement.

On a positive note, there are two strong on-chain support levels at $0.000008-$0.00001 and $0.000006-$0.000008, which could limit SHIB’s losses.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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