Popular meme coin Shiba Inu experienced a notable mini-decoupling from other altcoins over the weekend surging by over 5% in 48 hours. This price action has caught market attention, particularly SHIB holders, who are anticipating a continuity of the uptrend amidst broader market trends. Adding to the promising signs is the behavior of so-called “whales” which market experts believe is a contributing factor to the price uptick.
Shiba Inu had a mini decoupling from other altcoins over the weekend and is up a modest +5% in the past 48 hours. Holders will be pleased with the fact that non-exchange whales continue accumulating, while exchange whale bags are shrinking.
Santiment observed that these large investors particularly, non-exchange whales, who typically store their holdings in private wallets rather than on exchanges, have been on an accumulation spree. This action by these whales underscores growing confidence and long-term investment interest among the major players.
On the other hand, the amount of SHIB held by exchange whales, meaning those who keep their assets on trading platforms, is on the decline. This is an indicator of diminishing selling pressure, as fewer SHIB tokens are readily available for trading on exchanges. However, the contrasting nature of increasing accumulation by non-exchange whales and the shrinking exchange whale bags is creating a more favorable supply-demand dynamic for Shiba Inu.
Overall, these are encouraging developments for SHIB holders, who have seen significant volatility in the broader cryptocurrency market. Even though a 5% increase might look modest compared to past surges, it represents a positive shift for Shiba Inu considering the market volatility for other altcoins.
Shiba Inu In Block Travel
As the market continues to evolve, investors will be closely monitoring these whale movements and overall trends to gauge the future performance of Shiba Inu.
Adding to that, Shiba Inu continues to score towards mainstream adoption, this time by taking flight in the travel industry. As per the latest update, SHIB is now accepted as a form of payment by the international travel agency Block.Travel. Based in Spain and Argentina, Block. Travel, allows users to book flights, hotels, and other travel services using SHIB, along with other cryptocurrencies.