Shiba Inu Up 1,079% in Key On-Chain Metric: What's Next?
2025-01-05
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Dog-themed cryptocurrency Shiba Inu SHIBUSD has seen a remarkable surge in a key on-chain metric as 2025 gets underway. According to data from IntoTheBlock, Shiba Inu's large holder netflows, which measure the change in positions of large holders, or "whales," have skyrocketed by an astonishing 1,079%.
Per IntoTheBlock, Shiba Inu reversed negative net flows of 177.74 billion SHIB on Jan. 3 to a positive net flow of 67.52 billion SHIB on Jan. 4, marking a surge.
Large Holder Netflow is a crucial on-chain metric that provides insights into the behavior of major investors. The indicator offers a glimpse into the buying and selling activity of large holders, commonly referred to as whales. A positive netflow indicates that large holders are increasing their positions, while a negative netflow suggests they might be selling.Large Holders Netflow, Courtesy: IntoTheBlock">
In Shiba Inu's case, the massive increase in large holder netflows might indicate substantial accumulation by whales. This trend could be a bullish signal for SHIB, as 2025 is expected to bring significant advancements for the Shiba Inu ecosystem.
The Shiba Inu community is counting down to the TREAT launch on Jan. 14. The official Treat X account tweeted recently: "Mark your calendars, it’s going to be legendary. Just 10 days left until TREAT takes center stage."
The TREAT token is expected to introduce privacy enhancements via Fully Homomorphic Encryption (FHE), aiming to revolutionize data handling in blockchain.
Shiba Inu price
At the time of writing, Shiba Inu was down 3.66% in the last 24 hours to $0.0000237 and up 9% weekly, amid an earlier rise at the start of the year.
Shiba Inu began to increase on the last day of 2024, from lows of $0.0000218, marking four straight days of gains. The rally reached highs of $0.00002492 in Saturday's session before starting to decline.
In light of this, the key level to watch on the downside would be $0.00002 if the decline continues. If this level is breached, SHIB might fall to $0.0000188 or the daily SMA 200.
The daily RSI just at the midpoint suggests the possibility of range trading in the very short term. A sustained break above the daily SMA 50 at $0.0000255 would take SHIB's price out of its current range and start a new uptrend.