'Dogecoin Killer' Shiba Inu Bounces 6% On 1,058% Explosion In Large Holder Net Flow
Portfolio Pulse from Khyathi Dalal
'Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) saw a 6% price increase and a 46% spike in daily transactions to 7.24K, alongside a significant increase in large holder net flow by 1,058%. The movement of approximately 184 billion SHIB by three new wallets from Binance and Coinbase, worth around $4.9 million, and a strong LunarCrush AltRank of 2 indicate bullish momentum. However, trading volume is down by 18.3%. These developments come amid a broader interest in meme coins and their impact on the digital asset space.
April 04, 2024 | 9:42 pm
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Shiba Inu (SHIB) experienced a 6% price increase and a notable surge in daily transactions and large holder net flow, indicating bullish momentum.
The 6% price increase, alongside a 46% spike in daily transactions and a 1,058% increase in large holder net flow, suggests strong bullish momentum for Shiba Inu. The movement of significant amounts of SHIB by new wallets and positive social and trading indicators further support this trend. However, the decrease in trading volume could indicate potential volatility or consolidation in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100