Shiba Inu (SHIB) Whale Activity Surges 2025% as Large Holder Inflows Spike

SHIB, the popular dog-themed cryptocurrency, is turning heads once again as whale activity surges. According to IntoTheBlock data, large holder inflows skyrocketed

Shiba Inu (SHIB) is turning heads once again as whale activity surges, leading to a massive increase in large holder inflows this week, according to IntoTheBlock.

Shiba Inu: Key Levels to Watch As Whale Activity Surges

As reported by Benzinga previously, SHIB price dropped from $0.00001382 on March 16 to trade at a low of $0.00001227 on March 20, remaining in a narrow range.

At press time, SHIB is trading at $0.00001274, up 1.63% in the past 24 hours.

On the other hand, key resistance levels on the upside are the 50-day moving average (DMA) at $0.00001448 and the 200-DMA at $0.00001915. A breakout above these levels could indicate a bullish trend reversal.

On the downside, SHIB has support at $0.0000108, the level that halted its drop on March 11.

With increased volatility and whale accumulation, SHIB’s price could soon test major resistance levels, keeping traders on alert.

As reported by CCXV, huge outflows from major cryptocurrency exchange, Binance, and into-flows into whale wallets have sparked speculation among traders and analysts about SHIB’s next move.

Whales, typically large holders transferring assets from exchanges to cold wallets, are known to accumulate tokens after price corrections, which could signal a market bottom.

Such inflows have historically preceded price rebounds, making this surge in SHIB inflows particularly noteworthy.

This week, an astounding 6.26 trillion SHIB tokens flowed into whale addresses on March 20, resulting in a 2025% increase in large holder inflows, as shared by crypto analytics firm IntoTheBlock.

Furthermore, whale netflows also jumped 1,448%, indicating substantial SHIB accumulation by major investors.

With interest in meme coins growing and whale wallets reawaking, the crypto market could be gearing up for another SHIB rally.

However, only time will tell if SHIB can break free from the recent price range and either test new highs or major support levels.