Shiba Inu whales have been on a roll lately with volumes rising dramatically. However, this has not always been a cause for celebration, especially given the trends driven by these big investors. This is evident in the difference between whale inflows and outflows. Shiba Inu Whale Collectiblesindicating whether the increase in volume is the result of buying or selling.
SHIB whale size balloon
According to IntoTheBlock WebsiteShiba Inu whale volumes have been high over the past week and have continued into the new week. These whale trades are those holding $100,000 or more, making them big investors. On Sunday, whale volumes surged to over 1.62 trillion Shiba Inu, reaching $22.21 million at current prices.
These figures represent a 60% increase from $1.07 trillion. Gray hairOr $14.94 million, which is the amount recorded the previous day. This indicates that Shiba Inu whales move very much. Although the price of the meme coin remained low.
Of course, more whale participation could be significant for the digital asset, although the impact could swing either way. Depending on whether whales move their Shiba Inu tokens to exchanges or move them off exchanges, it could determine whether the price goes up or down.
This time, it looks like Shiba Inu price It could end up swinging to the negative. This is because although there were a lot of inflows into whales’ portfolios, indicating that they are buying, outflows dominated their volumes.
Shiba Inu Whales For Sale
Inflow and outflow of large carrier Data Data from IntoTheBlock suggests that selling is the main activity among whales. The inflow data, which represents the amount of SHIB flowing into the wallets of large Shiba Inu holders, indicates buying. Meanwhile, the outflow data, which represents the amount of SHIB being moved out of the wallets of large Shiba Inu holders, indicates selling.
The metric shows that on Sunday, 240.85 billion SHIB were transferred to these whales’ wallets. However, the outflow data shows that they transferred 440.84 billion SHIB from their wallets. This indicates that these whales are selling more than they are buying.
The total net flow data is -199.99 billion Shiba Inu, which means that these whales are heading towards selling. If this trend continues, it could increase selling pressure on the Shiba Inu price, which is already suffering due to the bearish trend in the broader crypto market.
Featured image created using Dall.E, chart from Tradingview.com