- Large Shiba Inu holders have accumulated 631.74 billion SHIB in just three days, despite the ongoing price slump.
- This surge in whale buying activity, along with positive netflows, suggests growing confidence in SHIB’s long-term potential.
Despite a persistent price slump, large Shiba Inu (SHIB) holders have resumed accumulation, amassing over 631 billion SHIB tokens in just three days. This strategic buying activity highlights a shift in investor sentiment, even as the broader crypto market faces continued bearish pressure.
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Whales Accumulate Amid Price Decline
Shiba Inu has struggled in recent weeks, experiencing a 7.27% drop over the past week and a 3.73% decline in the last 24 hours. Since March 27, SHIB has recorded four consecutive daily losses, marking its second such streak this month. If the current trend continues, SHIB could face its first five-day losing streak since January.
However, large investors remain undeterred. Data from IntoTheBlock reveals that major SHIB holders—those controlling at least 0.1% of the circulating supply—began accumulating aggressively on March 28.
- March 28: Whales purchased 165.51 billion SHIB
- March 29: Another 148.6 billion SHIB added
- March 30: Accumulation peaked at 317.63 billion SHIB
This brings the total accumulated amount to 631.74 billion SHIB, valued at over $7.58 million at current prices.
Positive Netflows Resume
A key development in this accumulation trend is the resurgence of positive netflows—a metric indicating that more tokens are being added to whale addresses than withdrawn.
From March 28 to March 30, netflows turned positive, totaling 276.28 billion SHIB ($3.3 million). Interestingly, the largest inflow was recorded on March 30, when 206.93 billion SHIB moved into whale wallets, despite SHIB’s price decline.
This shift in netflows suggests that large holders anticipate a market reversal or see the current price dip as a strategic buying opportunity.
Retail Investors Join the Accumulation Trend
It’s not just whales increasing their SHIB holdings. Data also indicates that smaller investors are following suit.
Addresses holding between 10 million and 100 billion SHIB and those with 10 trillion to 100 trillion SHIB have collectively increased their balance from 266.36 trillion to 266.6 trillion SHIB, an addition of 240 billion SHIB.
This widespread accumulation signals growing confidence in SHIB, potentially limiting further downside risks in the short term.
What’s Next for SHIB?
As of now, SHIB trades at $0.00001201, down 43% year-to-date but up 16% since November 2024. Whether this accumulation trend translates into a price rebound will depend on broader market conditions and whether buying pressure can outpace selling pressure.
For now, whale activity suggests strong conviction in SHIB’s long-term potential, despite the current price volatility.
