Shiba Inu Whale Inflows Surge 206% Amid Price Recovery
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Price Rebound and Market Sentiment
Following Tuesday’s massive sell-off, overall market sentiment began to stabilize. Bitcoin, for example, recovered from a 24-hour low of $86,200 to near $89,000, while SHIB rebounded, posting a gain of 4.14% in the last 24 hours to trade at $0.00001431. These movements suggest that the recent decline may have led to oversold conditions, potentially setting the stage for a price recovery.
Implications for SHIB
The surge in whale inflows is significant, as it often indicates that large investors are accumulating tokens at price bottoms. Many of these investors typically purchase on centralized exchanges and move their assets into cold storage, signaling a long-term commitment. Such behavior could mean that the current spike in inflows might pave the way for a breakout if sustained buying pressure continues. Traders are now closely monitoring key resistance levels, with the possibility that SHIB may recapture higher price levels if the upward trend persists.