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06/10 15:02

Shiba Inu Down 20%, But Whales Are Rushing In – Is

Shiba Inu Down 20%, But Whales Are Rushing In – Is SHIB the Next Sign of Recovery? Shiba Inu [SHIB] has been trading in a downward channel since hitting a local high of $0.00001764 three weeks ago.

The memecoin is down 20.53% in a month, reflecting strong downward pressure.

The continued decline in Shiba Inu has provided a buying opportunity for many market participants. This is especially true for large entities, as whales have returned to the market to actively buy on dips. According to IntoTheBlock, Shiba Inu whales have re-entered the market to actively buy memecoin.

Just two days ago, inflows from large holders fell to a monthly low of 42 billion tokens.

However, over the past day, market sentiment has changed dramatically, with inflows rising to 1.93 trillion tokens.

 Strong demand from large holders is evident as they are buying more than they are selling. Net whale flows jumped to a monthly high of 1.92 trillion, indicating that whales are only selling…

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