In recent times, the meme coin Shiba Inu (SHIB) has been capturing significant attention as major investors are accumulating more of this digital asset. The influx from large holders has surged by an impressive 555% over the past 90 days, indicating a strategic move by significant stakeholders to potentially benefit from a future increase in SHIB’s value. This trend emerges amidst a generally bearish sentiment prevailing across the cryptocurrency market.
Shiba Inu: Growing Market Trend
Amidst the prevailing negative market sentiment, Shiba Inu is showcasing a remarkable resilience. Data from Santiment reveals that while the broader crypto market has been engulfed by fear and uncertainty, the negative sentiment surrounding SHIB has plummeted by a staggering 718% in just one day. This dramatic change suggests a reduction in investor pessimism, even as the SHIB price dipped from its weekly high of $0.00001929 to below $0.000017.
Interestingly, this shift indicates a silver lining as the 7-day sentiment for SHIB has surged by over 2,800%, potentially setting the stage for a rebound. While crypto markets have corrected alongside equities, traders speculate whether the bull rally has concluded. This environment presents an intriguing opportunity for astute traders to capitalize on the shifting sentiments. In particular, a positive weighted sentiment of 339% for SHIB over the past 30 days suggests that hope remains, and a rally could be on the horizon.
Whale Activities on the Rise
The notable increase in large-holder inflows sheds light on the ongoing dynamics in the SHIB market. In the last three months, these inflows have skyrocketed by 554.88%, reflecting major investors’ confidence in acquiring SHIB at current price levels. Notably, there has been a 163% increase in inflows over the past month and a modest 1.29% rise in the past week.
Despite these encouraging signs from large holders, the trading volume has experienced a slight decline of 5.23% in a single day. This suggests that many investors remain cautious, potentially awaiting clearer market signals before making significant moves in this volatile landscape.
Future Prospects for Shiba Inu
Looking ahead, SHIB appears to be on a gradual uptrend, with a projected 90% rise anticipated over the next six months. This is attributed to growing interest in its long-term potential, as indicated by data from CoinCheckup. Further bolstering optimism, analysts forecast a robust 76% increase over the next year, underscoring positive growth expectations aligned with the expanding adoption of SHIB and its various use cases.
