Big Moves: Shiba Inu's Whales Are Back in Action

Big things are happening with Shiba Inu, the popular dog-themed cryptocurrency. Recently, there's been a huge 643% jump in large holder netflows. This means that the big players, or "whales, " are buying up a lot of Shiba Inu. This is a big deal because when whales start accumulating, it usually means good things for the price. Right now, Shiba Inu is at a crucial point. It's testing a key resistance level at the 200-day simple moving average, which is around $0. 00001371. To keep the bullish momentum going, it needs to break through this level and aim for $0. 000016 and then $0. 00002.Shiba Inu has been on a bit of a rollercoaster lately. After dropping to a low of $0. 0000116 on July 28, it started to bounce back on August 2. The rally really picked up steam on August 6, and now it's sitting above the 50-day simple moving average at $0. 00001277. But what's driving this activity? One big factor could be the anticipation of altseason. Altseason is a period where alternative cryptocurrencies, or altcoins, tend to perform really well. A team member recently hinted at an ultra-bullish market, which has everyone excited. However, it's not altseason just yet. The Altcoin Season Index is currently at 39, which is still in Bitcoin Season territory. For altseason to officially start, the index needs to cross 75, and Bitcoin's dominance needs to drop below 60%. Right now, Bitcoin dominance is around 61%, so we're getting close.