Intra-chain data shows that large Shiba Inu investors have collectively raised $100 million worth of SHIB in the past week.

According to data from the IntoTheBlock platform, major SHIB holders bought SHIB tokens in bulk last week. By "major shareholders" we mean here the combined group of investors who hold between 0.1% and 1% of the circulating supply, and even some investors who own more than 1% of the supply.

IntoTheBlock classifies the first group as "investors", while the second group includes "whales", or the largest and most powerful group of investors in the network.

The influence of large investors on the market

Given that these large conglomerates hold a significant part of the total supply in their wallets, they are able to make a noticeable impact on the market. Therefore, their behavior is something that needs to be paid attention to.

The analytics platform used the "net flow" metric, which measures the net amount of #Shibainu tokens entering or leaving the wallets of this group, to track the behavior of these investors.

The net flow measurement recorded only positive values during the last week, which indicates that these investors are adding to their positions. In total, the major owners collected $ 100 million worth of SHIB during this period. This shows that these wealthy investors continue to trust memecoin.

Potential market transformation seems to be on the horizon

Although Shiba Inu has been going through a difficult period recently due to falling prices, this net accumulation of whales and other large investors may be one of the first positive signs of a positive turn. This indicates that these investors believe that today's low prices may provide a good buying opportunity. #crypto2023 #Binance