Spikes in inflow often precede price bottoms
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There are a couple of scenarios that could explain the surge in large-holder inflows. One possibility is an increase in buying activity from whales or large holders, who may be acquiring SHIB tokens on exchanges before transferring them to cold storage. Another scenario is that such spikes in inflow often precede price bottoms, indicating that whales are taking advantage of the current market correction to acquire SHIB at a discount. This could indicate that they anticipate a price bounce and are strategically planning for future gains.The timing of the surge in key whale metrics is significant as the market is experiencing crypto carnage, with large losses across the board.
In the case of a price recovery, SHIB would confront its next resistance at the $0.000026 to $0.000030 range, where 100,700 addresses bought 51.68 trillion SHIB at an average price of $0.000028.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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