According to newly released data, whales have purchased around 160 billion SHIB tokens over the past two days, indicating a daily purchase of 80 billion tokens. This heavy accumulation has caught the attention of analysts as it may signal a price trend change not yet identified by many market participants. Net token flows towards Shiba whales’ addresses have turned positive, suggesting that large holders, after a neutral period, have resumed token accumulation. Daily net flows to these addresses have surged from close to zero to over 80 billion tokens. Although negative in the 7, 30, and 90-day timeframes, the recent sudden growth could be perceived as a market direction change sign. In the price chart, SHIB continues to trade around $0.000012. While the crypto market faces challenges, SHIB managed to defend a short-term support level and is now testing the next resistance around the 50-day moving average. However, the price still significantly differs from the 100 and 200-day moving averages, indicating a longer time is needed for a full price recovery. Meanwhile, the number of wallets holding between 100 thousand to one million SHIB tokens is increasing, indicating that retail traders are also following the whales in buying. Yet, due to a slowdown in Shiba’s ecosystem development, it’s still uncertain to talk confidently about its long-term return. If the new wave of whale demand continues and prices react to it, the market landscape may change. Overall, while history shows that whale movements precede significant fluctuations, it’s still unclear whether this surge is a prelude to a major move or just a false signal. Visit the real-time digital currencies price page to monitor all token and cryptocurrency prices live.
