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Popular Meme-Inspired Cryptocurrency Shiba Inu (SHIB) has seen a truly abnormal increase in one of the channel’s key metrics over the past 24 hours. So, according to In the blockthe net flow of cryptocurrency into the wallets of those holding at least 0.1% of the circulating supply of Shiba Inu increased by 1.559% in 24 hours, from 44.45 billion SHIB to 693 billion SHIB.
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This figure is made up of two separate figures, outflows and inflows, and both increased during the period under review.
Thus, the volume of Shiba Inu token inflows into large wallets increased by 48.8% to 11.25 trillion SHIB. As for the outflows, the daily increase amounted to 40.4% and the total token value amounted to 10.55 trillion. SHIB.
Interestingly, the outperformance of inflows occurred when the price of the popular meme cryptocurrency reached the $0.000023 area, compared to a decline of over 25% over the past two days.
Shiba Inu (SHIB): Price Outlook
However, in terms of technical analysis, despite the drama of this bearish movement, after increasing by more than 80% in the previous weeks, this correction is considered healthy and, in fact, it has stopped at 0, 5 on the Fibonacci scale, which is considered an important level to confirm the intentions of the bulls.
After reaching this important level today, the Shiba Inu token price added 3% and surpassed this zone, listed at $0.0000241.
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Which scenario was main: whales buying Shiba Inu then a rally, or a rally then a buy – remains to be seen, but the intentions of the big players and the price action of SHIB are clearly visible on the charts.