Shiba Inu, the dog-themed cryptocurrency, has experienced a remarkable upswing in key on-chain metrics, particularly among large holders, also known as whales. According to data from IntoTheBlock, Shiba Inu's net flows have skyrocketed by 2,649% over the past week, indicating substantial accumulation by these large players.

In addition to the surge in net flows, Shiba Inu has also seen a significant increase in large holder inflows, which have risen by 3,835% in the last seven days. Outflows have also increased, up by 5,019% during the same period. This notable surge in on-chain activity has coincided with a significant rebound in SHIB's price.

SHIB's price experienced a sharp increase during Friday's trading session, reaching a high of $0.00001819, after a period of decline. As of the latest update, Shiba Inu was trading at $0.00001764, up 2.23% in the last 24 hours. The rise in Shiba Inu's price aligns with a broader upturn in the cryptocurrency market, with Bitcoin surpassing $67,000 for the first time in over a month.

Analysts are closely monitoring key technical levels and trends to determine whether SHIB will continue its upward trajectory or enter a period of consolidation. Important factors to watch include overall market sentiment, broader cryptocurrency trends, and any upcoming news related to Shiba Inu. A sustained breakout above the daily moving averages of 50 and 200 could signal a bullish comeback.

In conclusion, Shiba Inu's significant surge in on-chain metrics and price rebound has caught the attention of analysts and investors alike. As the situation develops, it remains to be seen whether SHIB will continue its upward momentum or experience a period of consolidation.