Shiba Inu (SHIB) has once again captured the crypto community's attention with a significant surge in accumulation and exchange outflows. Recent on-chain data reveals compelling trends that highlight the asset's enduring popularity among investors.
Key Accumulation Trends Over the Past Two Weeks
Data from NerdBot, a specialized on-chain analytics resource, showcases a consistent accumulation pattern among newly created wallets. Here's a breakdown of the activity:
- Initial Phase (Sept 20–24): Modest accumulation, with daily purchases below 500 million SHIB.
- Turning Point (Sept 25): A dramatic spike to 5 billion SHIB in a single day, coinciding with a price dip—potentially indicating strategic buying.
- Peak Activity: Sept 25 recorded the highest single-day accumulation at 50 billion SHIB, followed by sustained activity averaging above 3 billion SHIB/day through early October.
- Total Accumulation: Over 180 billion SHIB acquired in 14 days.
Why This Matters
- Investor Sentiment: The spike suggests traders capitalized on price corrections, reflecting confidence in SHIB's long-term value.
- Price Context: Accumulation intensified after SHIB reached $0.00000751** on Sept 24, later adjusting to **$0.000007165 (-1%) at press time.
Exchange Outflows: A Bullish Signal?
NerdBot's data also reveals a sharp decline in exchange net flow, hitting its most negative value since Sept 25. Key observations:
- Net Outflows: 120 billion SHIB withdrawn from exchanges, signaling reduced selling pressure.
- Whale Activity: A new holder (
0xb75) moved 292.5 billion SHIB off Coinbase over three weeks—a strong hodling indicator.
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FAQs: Understanding SHIB's Market Dynamics
Q: Why are exchange outflows bullish for SHIB?
A: Negative net flow means fewer tokens are available for trading, potentially driving up scarcity and price.
Q: What triggered the Sept 25 accumulation spike?
A: Likely a combination of price dip buying and strategic positioning by large investors.
Q: How does whale activity affect SHIB's price?
A: Large withdrawals reduce sell-side liquidity, often preceding price rallies if demand remains steady.
Key Takeaways for Investors
- Acceleration in Accumulation: New wallets are actively acquiring SHIB, reflecting growing retail and institutional interest.
- Exchange Dynamics: Sustained outflows align with historical bullish trends for crypto assets.
- Market Watch: Monitor whale addresses (
0xb75) and Coinbase flows for future price cues.
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Note: All data sourced from NerdBot; price metrics from CoinMarketCap.
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