Shiba Inus 90-Day Inflows Soar 554.88%, Reigniting Hope
- Shiba Inu (SHIB) sees increased large-holder inflows despite a bearish market, with 90-day inflows up 554.88%, signaling possible bullish activity.
- Negative sentiment dropped by 719.81%, but SHIBs 7-day sentiment improved by 2,827%, hinting at potential recovery.
- Cautious trading persists with a 5.23% drop in 1-day volume, as investors await clearer market trends.
Shiba Inu (SHIB), a prominent meme coin, is attracting attention despite the current market downturn. As cryptocurrencies face widespread volatility, Shiba Inu has shown resilience, with large holders continuing to accumulate. Amid sentiment swings and market corrections, this trend hints at a potential bullish move for the asset.
A recent analysis by Santiment revealed key metrics that paint a clearer picture of SHIBs performance. While negative market sentiment dominates the landscape, large holders are taking advantage, potentially preparing for an upward price movement.
The ongoing market corrections have not spared Shiba Inu. Many traders have expressed concerns that the recent crypto and equity bull rally might be losing steam. As fear, uncertainty, and doubt (FUD) take hold, Shiba Inu is now positioned as one of the few assets with potential upside.
Santiments data highlights a sharp shift in sentiment. The meme coin saw a staggering 719.81% drop in 1-day sentiment, reflecting growing investor negativity. From its high of $0.00001929 earlier in the week, SHIBs price fell below the $0.000017 mark, reinforcing bearish market fears.
But these fluctuations in sentiment could create an opportunity. Historically, when crowd sentiment is overly negative, market movements tend to surprise in the opposite direction. SHIBs 7-day sentiment improved, showing a 2,827% positive change. Over a 30-day period, Shiba Inu maintains a 339.12% weighted sentiment, signaling hope for recovery.
Despite these signs of recovery, Shiba Inus 1-day trading volume decreased by 5.23%, indicating that traders remain cautious, possibly waiting for clearer indicators before making moves.
Inflows Suggest Strategic Accumulation by Large Shiba Inu Holders
Even as market sentiment takes a hit, large holders of Shiba Inu continue to accumulate. Over the past 90 days, large-holder inflows have increased by a significant 554.88%. This trend suggests that major players are taking strategic positions, preparing for a potential price rise.
Over the past 90 days, Shiba Inu has seen a remarkable 554.88% increase in large-holder inflows, indicating strong accumulation. This trend continued with a 163.23% rise in the last 30 days, while more recent 7-day inflows showed a modest 1.29% uptick, reflecting ongoing interest from key investors.
These inflow metrics suggest that large holders view the current market sentiment as an opportunity to accumulate SHIB at a discount, positioning themselves for future gains.
Interestingly, this strategic accumulation mirrors historical market patterns where contrarian investors seize opportunities when broader market participants are selling. In such conditions, inflows from large holders often signal confidence in future price appreciation.
While Shiba Inu faces significant sentiment fluctuations in a shaky market, the continued interest from large holders suggests that bullish potential may be on the horizon. Investors following the crowd could be missing out on opportunities, especially as large holders strategically accumulate. For now, Shiba Inu remains a project to watch, particularly for those looking to navigate the current market uncertainty with a contrarian approach.
Read more: https://www.tronweekly.com/shiba-inus-90-day-inflows-soar-554-88-hope/
Text source: TronWeekly
