Shiba Inu: 1 trillion SHIB tokens bought: How will prices react?
Shiba Inu buyers are back in the market with both whales and retailers aggressively accumulating.
- SHIB was experiencing massive demand from whales and retailers.
- Shiba Inu could rally to $0.000017 if the accumulation trend continues.
After a period of net seller dominance, Shiba Inu [SHIB] buyers are back in the market. Since then, both whales and retailers are currently in accumulation mode.
For starters, whales have returned to the market after briefly disappearing. Just four days ago, whale capital inflow had dropped to 163 billion SHIB tokens, raising concerns that they were exiting.
However, accumulation has resumed, signaling renewed interest in the memecoin.
SHIB whales resume accumulation
In the past 24 hours, Shiba Inu whales have accumulated 1.04 trillion SHIB tokens, signaling a shift in market sentiment among large holders. This surge in capital inflow suggests that whales now see the market as favorable for taking positions.
Looking at netflow data, most whales are currently buying the memecoin. Large holders recorded an outflow of 768 billion SHIB over the past day, resulting in a positive capital inflow of 266 billion SHIB.
A positive capital inflow indicates that demand is currently outpacing outflow, with whales primarily accumulating SHIB.
Their growing interest reflects increasing confidence in the memecoin, signaling bullish sentiment.
Beyond whale activity, accumulation is widespread across market participants. In the spot market, buyers are in control, purchasing 338.28 billion SHIB while sellers have offloaded 326 billion.
This positive order imbalance suggests that buying pressure is outweighing selling activity.
This market behavior is further confirmed by a positive Exchange Netflow. As per CryptoQuant data, Shiba Inu Exchange Netflow has recorded a negative value for two consecutive days.
Over this period, the total netflow has reached 123 billion, signaling a massive exchange outflow. Inasmuch, more than 372 billion SHIB tokens have left exchanges, reflecting strong accumulation.
This accumulation among whales and retail traders has seen the memecoin’s scarcity surge, with the Stock to Flow Ratio reaching 2.2k.
With increased exchange outflow, Shiba Inu has now become more scarce, with less of the memecoin available to sell.
Historically, a higher scarcity while demand rises or remains constant, prices follow suit. In the laws of supply and demand, these conditions position Shiba Inu for more gains on its price charts.
What’s next for SHIB?
As expected, the rising accumulation has had a positive impact on the memecoin’s price charts. Inasmuch, after dropping to a low of $0.00001388, the memecoin has recovered to hit $0.00001492.
Although slight gains, it suggests a shift in investor behavior towards more accumulation could result in memecoin’s significant recovery and gains.
Therefore, if the trend continues as market participants turn to accumulation, we could see SHIB reclaim $0.0000158 in the short term. A move above this resistance will see Shiba Inu jump to $0.000017.
Conversely, if sellers return to the market, the memecoin will pull back to $0.0000138.
