Shiba Inu witnessed a surge to a two-month high amid this week’s bullish market momentum.

Based on data from IntoTheBlock, Shiba Inu experienced an astounding 841% surge in outflows over the past week. The Large Holders Outflow, as monitored by IntoTheBlock, monitors the movement of funds from addresses held by significant whales or large holders, providing insights into moments of potential concern. Surges in outflows can typically signify two scenarios: sales from large whale addresses or withdrawals from exchanges. During periods of heightened volatility, substantial holders might be inclined to offload assets to avoid liquidation. However, it’s important to note that a significant portion of these outflows can often be attributed to funds exiting exchange platforms.

A more accurate perspective can be gained by utilizing the NetFlow indicator, which quantifies the net shift in whale holdings. Over the past seven days, Shiba Inu has experienced a substantial negative netflow of 96.69% among large holders. Declines in large-holder netflows often signal diminished positions or selling activity.