Shiba Inu currently showing on-chain bullish divergence
IntoTheBlock
data, Shiba Inu is currently seeing a seven-day change, recording a negative netflow of 756% in that time frame. Large Holders Netflow shows the change in the positions of whales and investors with more than 0.1% of the supply. In brief, netflow spikes indicate accumulation from large players, while drops point to reduced positions or selling.
The drop in Shiba Inu large-holder netflows coincides with the lackluster trading seen in the crypto market since the start of September.The crypto sector had its moments in September. However, the story so far has been one of brief rallies, a few isolated cryptocurrency pushes, and little movement at the end of the day. Whales are generally waiting on the sidelines, with a tendency to reduce or trim their positions.
Thus, when accumulation picks up once more, it may signal the start of a new price move for Shiba Inu, hence the significance of the large holders' Netflow indicator.
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