Shiba Inu Whales Trigger Surge With Over 1 Trillion SHIB Accumulated in a Weekend Frenzy

Shiba Inu’s price soared over 5% this weekend, fueled by an extraordinary 1.136 trillion SHIB whale accumulation. On-chain data highlights bullish momentum as major holders bolster their positions, solidifying the token's resilience above critical price thresholds.

Shiba Inu Surges Past Key Price Level of $0.00003

Shiba Inu (SHIB), a cryptocurrency that takes its inspiration from memes, has seen its price rise slightly over the weekend, and it has risen by more than 5% in the past few hours. By maintaining its citation of the aforementioned critical price level of $0.00003, the Shiba Inu coin unveils more promising details in the larger context.

Assuming this mark remains unchanged, the fact that SHIB remains above it indicates that neither sellers nor buyers are ready to part with their money at these rates. In the grand scheme of things, this is bullish action that sets the stage for the meme coin to keep climbing.

Another positive sign is the Shiba Inu token's on-chain data. In just the last day, the net flow of SHIB into the wallets of major holders reached 708.93 billion tokens, a rise of 106.3%, according to data from IntoTheBlock.

Whale Accumulation Reaches Over 1 Trillion SHIB

Specifically, throughout the course of the previous two days, or at the most, this past weekend, the net amount of Shiba Inu tokens contributed by individuals holding at least 0.1% of the circulating supply exceeded 1.136 trillion SHIB, or over $34.08 million.

That being said, activity has been steadily declining throughout the week, with a 75.21% drop in the volume of SHIB coming into whale wallets and an 81.8% drop out, U.Today explains.

Market Awaits Next Move as On-Chain Figures Impress

It's exciting to watch how this dynamic plays out when market activity picks back up, but even with all the guesswork, the Shiba Inu token's on-chain figures are amazing.

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