The Shiba Inu recovery trend has just shown signs of slowing down while the supply on whale-grade addresses has reached $2 billion. The net outflow of assets has also declined but remains at a substantial 176% increase.
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Net traffic increased
Net flow is one of the key indicators of current cash flow into an asset. In our case, the net flow reflects the movement of funds across whale-grade wallets on the Ethereum blockchain. This indicator can be used to determine if traders and investors are moving money into or out of the asset.
During the adjustment or distribution period, the net worth of the asset remains negative. A negative net worth indicates that whales are closing their positions and moving money out of the asset, which was the case in the past when SHIB lost more than 60% of its value against ATH.
Whales hold still steady
While the recovery rally on Shiba Inu is slowing, the value of whale wallet holdings remains the same, with whales owning more than a quarter of the token supply. Their total holdings are at approximately $2 billion.
The total holdings of Shiba Inu whales increased from $1.5 billion to $2 billion in less than a week. While it appears that the whales purchased $500 million worth of tokens, the real reason behind the sudden spike in the value of their holdings is a 25% increase in asset value.
At the time of writing, Shiba Inu is trading at $0.000037 while losing 6.5% from the top of the rally rally. Total damage to Shiba Inu since ATH totals 57%.