Shiba Inu Price Surges Amid Whale Accumulation
- Shiba Inu’s price increased over 13% on January 4, breaking a prolonged bear trend.
- The surge was primarily driven by large whales accumulating SHIB, rather than retail demand.
- Top ten whale wallets now control about 62.65% of the total Shiba Inu supply, with the largest holding approximately $3.3 billion worth of SHIB.
- Shiba Inu has gained more than 32% Year-to-Date in early January.
The recent price rally of Shiba Inu is largely attributed to significant accumulation by major holders, indicating confidence among these large players despite muted retail activity. This shift follows an extended downtrend from late October through December, marking a notable change in market momentum for the meme coin.
With top whale wallets controlling a significant portion of the supply and contributing to liquidity constraints, Shiba Inu’s price movements are likely to remain influenced by these dominant holders’ actions. (Source)
