Shiba Inu (SHIB), a dog-themed cryptocurrency, has seen a 164% increase in large holder inflows, indicating buying activity. Large holders often purchase on exchanges and then transfer their funds to cold storage. This surge in inflows could suggest a potential price bottom, as these addresses tend to buy in large quantities after significant corrections. SHIB has been declining but recently rebounded from a low point. The cryptocurrency is currently up 1.5% in the last 24 hours, and if it continues to close in the green, it will mark its third consecutive day of gains. However, there are obstacles ahead, with resistance levels at $0.00001442 and $0.000021. If these levels are surpassed, SHIB could aim for the $0.00003 level. Additionally, Shiba Inu has been expanding its impact through the launch of Shiba Inu Developer's Portal, the release of the game Agent Shiboshi, and its first Web3-ranked event. These developments signal the cryptocurrency's long-term ambition of building a thriving ecosystem.
- Content Editor ( u.today )
- 2024-09-09
Shiba Inu Inflows Skyrocket 164% as SHIB Preps for Major Rally