Shiba Inu witnesses a big astronomical peak holders influx, representing one of the highest daily figures in its history.
The broader crypto market has entered a discouraging retracement phase that has triggered a massive price decline, with Shiba Inu also taking some of the burn. To recall, SHIB collapsed by 9.38% yesterday, January 7, marking its highest intraday loss since December 19, 2024.
Shiba Inu sees massive net flow of large holders
Despite this bearish phase, on-chain data confirmed that the dog-themed meme piece had a remarkable event yesterday. Notably, on January 7, 2025, Shiba Inu recorded large holders net flows worth a whopping 33.59 trillion tokens valued at $739 million at current prices.
To put things into perspective, this figure represents approximately 5.7% of the total Circulating Supply Shiba Inuindicating the extent of the accumulation. Additionally, the data marks one of the highest large holder influx figures seen by Shiba Inu in All its history.
As a reminder, so far, daily inflows from large holders have averaged 600 billion SHIB over the past few months. Despite occasional spikes, this figure remained below 30 trillion SHIB throughout 2024, with a rare peak recorded on March 2, 2024, when inflows reached a peak of 24.79 trillion tokens amid the surge. prices. at the time.
The last time SHIB witnessed a daily influx of large holders above the 30 trillion mark was in July 2021, almost four years ago. During this period, the Shiba Inu The market was relatively newer and large holders periodically moved large volumes of tokens due to falling prices.
Here’s what happened
Interestingly, the latest inflow figure of 33.59 trillion has sparked speculation of a whale accumulation pattern among market participants. However, previous reports from The Crypto Basic suggests this might not be the case the case.
Notably, The Crypto Basic confirmed that an internal fund from leading crypto exchange Crypto.com contributed to the 33.59 trillion figure. Specifically, Crypto.com alone moved over 32 trillion Shiba Inu tokens across 20 transactions to a single unidentified wallet, triggering the latest spike. holders influx.
However, market data indicates that the recent influx had no effect on Shiba Inu price, perhaps due to the nature of Crypto.com transactions. As a reminder, the broader market crisis also caused Bitcoin (BTC) to drop to $96,000, leading to massive liquidations worth approximately $627 million in 24 hours.
From this figure, Shiba Inu The liquidation amount was $1.57 million, the majority of which, approximately $1.39 million, was in long positions. SHIB’s slowdown has spread today, with the asset down 0.75% this morning, currently trading at $0.00002163.
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