Shiba Inu saw a significant surge in early Saturday trading, with intraday highs reaching $0.00000966 at the time of writing. The rally built upon the prior day’s advance by bulls, consolidating Shiba Inu’s foothold above the daily MA 200 barrier at $0.00000805, which had previously impeded its price rise in the past week. As Shiba Inu aims to turn this barrier into support, the next target for bulls is $0.00001134.
Inflows for Shiba Inu have been strong this week, particularly from large holders or whales. According to IntoTheBlock data, Shiba Inu has seen a 627% surge in large holder inflows within this time frame.
Large Holders Inflow tracks funds entering whales’ addresses, indicating significant buying activity. Price bottoms can be indicated by spikes in large-holder inflows, as whales often prefer to buy in bulk after significant corrections. SHIB’s price was responding positively to the spike in large holder inflows, rising 13.39% in the last 24 hours to $0.00000947 at the time of writing.
Shiba Inu achieved several milestones this week. The first edition of The Shib Magazine was presented to the community, with an added bonus for early subscribers: 1,000 free NFTs of the first edition cover. Published weekly, The Shib Magazine serves as a gateway to groundbreaking ideas, the latest innovations, and updates within the Shibarium ecosystem and beyond.
Additionally, the Shiba Inu team shared exciting news about the SHIB wallet, which now offers a unique feature to help users recover their wallets even if they have forgotten their seed phrases. The Shib platform also integrated Web3Auth, simplifying the user onboarding process.
Overall, Shiba Inu is showing positive momentum in its trading and is achieving key milestones in its development and community engagement, making it an asset to watch in the coming days.
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