Shiba Inu Price Surge: Strong Whale Buying Activity May Drive SHIB Price to New Highs
The continuous accumulation by major holders serves as a positive signal, typically indicating confidence in the token’s future potential. This pattern not only strengthens SHIB’s upward momentum but also lays the groundwork for possible price gains, backed by the consistent support from its large investors.
Holders Refrain from Selling, Boosting SHIB’s Price Surge
The Network Realized Profit/Loss data for SHIB revealed a predominantly bearish trend in the previous week, suggesting that a significant number of traders who divested their assets did so at a loss. This pattern, as observed in Santiment’s analytics, pointed towards decreased selling pressure, driven by holders’ reluctance to realize losses.
As a result, the decrease in selling activity played a crucial role in sustaining SHIB’s recent price upsurge. Through retaining their tokens, investors have showcased their belief in SHIB’s ability to recover, further augmenting its bullish momentum.