1 Trillion SHIB in 24 Hours: Whale Activity Signals a Big Price Increase

Shiba Inu cryptocurrency (SHIB) inspired by a popular meme continues to create a wave over the weekend. This time, the reason is what is happening on the SHIB price chart and what is happening behind the scenes - in reality on the chain. According to IntoTheBlock, large holders of Shiba Inu tokens have increased their holdings by over 1 trillion in the past 24 hours.

And that is the net cash flow, but if we look at the Money Flow of large holders, it turns out that the money flow is even larger, up to 1.98 trillion dollars. As a result, the net cash flow of SHIB into wallets holding at least 0.1% of the circulating supply has increased by 84.4%. Shiba Inu (SHIB): Price Review Meanwhile, in the past 24 hours, the price of Shiba Inu token has grown by 19.2%. Particularly, the price surge occurred in early December, with a rapid breakthrough resistance level at $0.0000296. Although not broken on the first attempt, the strength of the final buyers helped SHIB surpass it and find a local peak at $0.0000317, turning this resistance level into a support level.

If the Shiba Inu token maintains above this important price level, the market will confirm the buying interest here, which will ultimately open up the possibility of SHIB testing the downtrend at a higher place somewhere. What happened before, the rise in SHIB price or the whales buying coins inspired by memes, is an open question. However, the fact remains that as the price of the Shiba Inu token began to rise, large investors pushed for quick buying. Next week will show whether this convergence continues or not.