According to data from IntoTheBlock, there has been a significant increase in outflows of Shiba Inu (SHIB) tokens from the wallets of large holders, rising by 475% in the past 24 hours. However, despite this increase, the netflow of SHIB to these wallets remains positive, indicating that the meme coin is still being deposited into these addresses. It is unclear whether this outflow is bearish, as it could be traders and investors depositing their holdings onto exchanges with the intention to sell. The increase in whale activity with SHIB suggests that there is both buying and selling happening, but it is uncertain which is more prevalent. The price action of SHIB in the coming days may shed light on this.



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