The Shiba Inu cryptocurrency recently experienced a significant event during a downturn in the broader crypto market. Data reveals that on January 7, 2025, SHIB recorded one of the highest daily inflows from large holders, a notable occurrence despite the asset’s recent price struggles. The crypto market has entered a bearish phase, leading to widespread price drops among digital assets. Shiba Inu was not spared, experiencing a sharp decline of 9.38% on January 7, its largest daily loss since mid-December 2024. This decline is part of a broader trend that has seen cryptocurrencies struggling to maintain bullish momentum. Record-High SHIB Large Holders Inflows Despite the market downturn, on-chain data highlighted a striking development for Shiba Inu . On January 7, large holders’ netflow reached an astounding 33.59 trillion SHIB tokens, valued at $739 million based on current prices. This figure accounts for approximately 5.7% of SHIB’s total circulating supply, underscoring the significance of the movement. In perspective, large holder inflows for SHIB have averaged around 600 billion tokens daily in recent months. While occasional spikes have occurred, they typically remained below the 30 trillion mark throughout 2024. The last time the asset recorded inflows above this level was in July 2021 when the token was relatively new and large transactions were more common due to its lower price. Understanding the Recent Spike The substantial inflow of 33.59 trillion SHIB tokens has raised speculation about potential whale accumulation among market participants. However, data indicates that this surge was primarily due to internal fund movements by the crypto exchange Crypto.com. Crypto.com transferred over 32 trillion SHIB tokens across 20 transactions to a single, unidentified wallet. This internal activity accounted for the inflow spike, rather than external buying or significant market-driven accumulation. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Market Reaction and Liquidations The recent inflow coincided with a broader market slump that saw Bitcoin’s price drop to $94,000, leading to liquidations totaling $627 million within 24 hours. Shiba Inu accounted for $1.57 million of these liquidations, with the majority ($1.39 million) resulting from long positions. Shiba Inu’s price remains under pressure following the downturn, trading at $0.00002127, reflecting a further 2.25% decline over the past 24 hours. The continued bearish trend highlights SHIB’s challenges in regaining upward momentum. The record-breaking inflow of large holder activity for Shiba Inu is noteworthy but does not reflect significant market buying or whale accumulation. Instead, it underscores the influence of internal exchange transactions on on-chain metrics. As the broader crypto market navigates its current retracement phase, the token faces the dual challenge of market pressure and investor caution. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Shiba Inu Records One of the Largest SHIB Whales Inflows appeared first on Times Tabloid .
