Shiba Inu (SHIB) whale net flows down 30,000% amid market uncertainty

Shiba Inu, the popular dog-themed cryptocurrency, has recently experienced a significant drop in whale net flows, plummeting by over 30,000%.

According to data from IntoTheBlock, the meme token’s whale net flows—often used to track large investor activity—have declined by 30,045%.

This steep drop suggests major holders could be trimming their positions or exiting the market, possibly in response to recent market volatility.

Whale net flows serve as a critical indicator of shifts in large investor behavior.

While an increase typically signals accumulation, a sharp decrease points to reduced balances or selling activity.

Shiba Inu's sharp drop could indicate that big investors are taking profits following the token’s recent price surge or reacting to broader market uncertainty.

Although this could signal a bearish trend for SHIB, the token's future performance will depend on overall market conditions.

Investors and enthusiasts are likely to watch closely for technical analysis and on-chain data to gauge the token's next move.

SHIB’s potential resurgence

Crypto intelligence firm Santiment believes Shiba Inu will outperform once Bitcoin steadies to welcome an altcoin season. SHIB’s monthly average trading profits are only down 1.1%, whereas long-term return experiences a staggering 31.7% dip.

Santiment stated that such stances set the digital coin for impressive performance amid a flourishing altcoin market and stabilized Bitcoin prices.

Moreover, SHIB retail traders are displaying relief (unlike Dogecoin players), with supply held by individuals holding less than 1 billion tokens at the lowest market since November 2022.

That reflects significant fear, uncertainty, and doubt (FUD), with addresses holding over 1 billion SHIB dominating.

The prevailing FUD could catalyze price surges for the second-largest meme token by value.

Shiba Inu’s current performance

SHIB trades at $0.00001328 during this publication, up 0.40% on its daily chart. While the 25% dip in daily trading volume indicates potential declines for SHIB, technical indicators support bullishness.

The Moving Average Convergence Divergence signals upside momentum with green histogram bars. Moreover, the Relative Strength Index at 45 indicates a possible 2-digit increase in Shiba Inu’s price.

Thus, the altcoin could climb towards $0.00001525, translating to an over 10% gain from current prices and taking Shiba Inu closer to August’s peak of $0.00001610.

Increased developer activity on the layer2 platform Shibarium and the token burn campaign could also back SHIB’s double-digit uptick.

Nevertheless, broad market tendencies remain vital in determining Shiba Inu’s trajectory in the up-and-coming sessions.