Whale Watching: Shiba Inu’s Long-Term Holders Dive Back In

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Oh, the irony! Shiba Inu (SHIB) is experiencing a significant shift as its long-term investors, affectionately known as “whales,” start to reinvest. 🐬 According to the latest on-chain data, addresses holding SHIB for more than a year have increased by 5.62%. It’s like watching a dog swim in circles, but hey, at least they’re moving!

Despite the asset’s recent performance being about as appealing as a week-old sushi roll, this development suggests that experienced market participants are becoming more confident. 🙄 The daily chart shows SHIB/USDT in a period of consolidation, hovering near the crucial support level of $0.00001200. Being below significant moving averages like the 50, 100, and 200 EMAs indicates that broad market conditions are, well, bearish. �izzly

However, the appearance of higher lows in recent days suggests momentum might be building. It’s like watching a turtle trying to run a marathon—slow, but maybe there’s a spark! The number of short- and medium-term investors is decreasing, while the number of long-term holders is increasing. For traders who have held SHIB for less than a month, the decline has been -4.79%; for those who have held for one to twelve months, the decline has been a whopping -18.82%. Ouch! 🤮

This divergence suggests that speculative interest is waning, and more patient capital with a longer investment horizon is being left behind. When experienced investors build up during times of low volatility and negative sentiment, it often signals bigger market movements. Think of it as the calm before the storm, or in this case, the whale before the wave. 🌊

The rise in one-year holders might be a sign that a breakout is imminent, especially as SHIB forms a descending triangle. A successful break above $0.00001426 could cause a bullish reaction and invalidate the current downward trend. It’s like waiting for a fireworks show, but the fuse is really, really long. 🚀

The resurgence of whale activity may indicate a renewed belief in SHIB’s long-term prospects, even though short-term price action is still under pressure. If steady accumulation continues, a more significant recovery might be possible in the coming weeks. Fingers crossed, eyes on the charts, and a prayer to the crypto gods. 🙏

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2025-03-23 14:40