Despite the broader crypto market downturn, large Shiba Inu (SHIB) holders have shown remarkable resilience.

Despite facing a tough period in the broader crypto market, large Shiba Inu holders have shown remarkable resilience.

Large Shiba Inu (SHIB) holders appear undeterred by the tough period faced by the broader crypto market, with new data revealing that they’ve been busy accumulating SHIB even as the cryptocurrency coin continues to struggle with a price slump.

Over the last three days, large Shiba Inu holders, defined as addresses holding at least 0.1% of the circulating supply, have added a staggering 631.74 billion SHIB to their collective holdings. This follows a few days of major outflows, which were largely reversed.

According to data from blockchain analytics firm IntoTheBlock, these large SHIB holders saw positive netflows of 276.28 billion SHIB, an amount that’s estimated to be around $3.3 million. The bulk of this activity occurred on Thursday, March 30, with 206.93 billion SHIB flowing into their addresses despite the coin’s price decline.

Earlier this week, large Shiba Inu holders had been rapidly decreasing their positions as part of a broader selloff in the crypto market. However, this trended changed on Tuesday, March 28, when they began buying up SHIB again.

After a few days of significant outflows on March 26 and 27, large Shiba Inu holders began reversing their course.

These addresses started to see positive netflows on March 28, and they’ve been accumulating SHIB ever since. In the three-day period that started on Tuesday, they collectively added a massive 631.74 billion SHIB, which is estimated to be worth $7.58 million.

The accumulation began with the purchase of 165.51 billion SHIB. This trend continued the following day, with large SHIB holders adding another 148.6 billion to their bags on Wednesday, March 29.

On Thursday, the pace of accumulation accelerated, with these investors purchasing an additional 317.63 billion SHIB. In total, the three-day period saw over 631 billion SHIB tokens added to the holdings of large investors.

Smaller investors, particularly those holding between 10 million and 100 billion SHIB, are also increasing their balances. Data from IntoTheBlock shows that these smaller investors, along with those holding between 10 trillion and 100 trillion SHIB, have added 240 billion SHIB to their holdings since Tuesday, bringing their total balance to 266.6 trillion SHIB.

This rise in accumulation from both large and small investors suggests that the Shiba Inu community remains committed to the asset, even in the face of price volatility. With buying pressure building, it is likely that the recent downward trend may start to reverse if this positive accumulation trend continues.

As Shiba Inu’s price currently stands at $0.00001201, showing a year-to-date decline of 43% but a recovery of 16% since November 2024, the recent accumulation trend among large holders could help buffer the coin from further decreases.

If the influx of buying pressure outpaces selling pressure in the coming days, SHIB may see a price recovery, benefiting from the strong belief and actions of its investors.