Cryptocurrency EducationNewsSHIB

Shiba Inu (SHIB) Triggers Massive Netflow Spike as Price Jumps 5%

1 Mins read

Dog-themed cryptocurrency Shiba Inu is seeing a spike in netflows, remarkably from whales, or large holders.

According to IntoTheBlock data, Shiba Inu is reporting a 1,028% spike in Large Holders Netflow, which provides an idea of the change in positions of whales and investors with over 0.1% of the supply.

Large-holder netflows surged in 24 hours from 5.12 billion SHIB on Dec. 31 to reach 4.26 trillion SHIB on Jan. 1. This is positive, as spikes in netflow can be seen as accumulation from large players or whales.

Shiba Inu kicked off 2024 on a positive footing, journeying from lows of $0.0000107 on Jan. 1 to reach intraday highs of $0.00001092 at press time. In line with the crypto market’s rise on Jan. 2, SHIB had risen 5% before relinquishing some of its gains.

At the time of writing, SHIB was up 3% in the last 24 hours to $0.00001077, according to CoinMarketCap. SHIB’s 24-hour trading volume has risen 63% in the last 24 hours in line with the price increase, with over $140.6 million worth traded.

Shiba Inu’s layer-2, Shibarium, saw amazing growth in the past year (2023). Shibarium is kicking off 2024 on a strong note, surpassing 236 million in total transactions. According to Shibariumscan, Shibarium’s total transactions have reached 236,444,608.

The year 2023 also saw remarkable progress in SHIB burns. According to SHIB burn, a whopping 76,403,022,296 SHIB tokens were burned in 2023. This amounted to $688,907 in monetary terms.

For the SHIB price, $0.00001127 and $0.00001194 are major levels for bulls to contend with to kickstart a fresh uptrend. In this scenario, SHIB might target the $0.000014 level.

On the other hand, the daily MA 50 at $0.00000954 acts as a sturdy support for SHIB, cushioning further declines.


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.