Shiba Inu (SHIB) exhibited a dramatic increase in large holder inflows, with whale addresses receiving 2,952% more SHIB as of May 7, according to IntoTheBlock data. Large holder netflows also soared by 6,050%, indicating significant accumulation activity by whales after a period of stagnation.
This massive transfer saw inflows rising from 238.91 billion SHIB to 6.42 trillion SHIB in just a short window. Similarly, netflows jumped from 132.54 billion to 6.21 trillion SHIB, signaling that influential investors are actively increasing their positions.
The inflow spike coincided with a 6.78% price surge in SHIB, moving the token from a flat range around its daily SMA 50 ($0.00001274) to intraday highs of $0.00001367. The news arrives as the broader crypto market, led by Bitcoin, also experiences rallies, with BTC nearing its all-time high of $100,000.
Market watchers are monitoring resistance above $0.000015 and support at the daily SMA 50, as a decisive break could set the stage for renewed uptrends in SHIB.
