Shiba Inu Price at Crossroads: Whales Move 67.5B SHIB after 3-Day Profit-taking

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The price of Shiba Inu dropped by 5% over the past 24 hours, reaching $0.000024 on January 5th. Meanwhile, competitors like Dogecoin and Pepecoin reached new highs. Interestingly, large investors (whales) seem to be buying heavily during this price drop, suggesting a possible sharp increase in Shiba Inu’s price soon.

Shiba Inu Price Holds $0.000023 Amid 5% Pullback

In contrast to the growth seen in Dogecoin (DOGE) and PEPE over the past 24 hours, Shiba Inu (SHIB) has fallen short, not matching the overall trends within the crypto market. While DOGE surpassed $0.40 and PEPE exceeded $0.00020, SHIB’s performance has been comparatively weaker.

Shiba Inu price action | SHIBUSDT

The graph you see illustrates that the price of Shiba Inu (SHIB) dropped by 5% over the past 24 hours following its encounter with a resistance point at approximately $0.000025 on January 3. At present, SHIB is floating slightly above the support level of $0.000023, and there has been a noticeable decrease in trading activity, which could potentially lead to more bearish trends, despite the predominant bullish sentiment across the broader cryptocurrency markets.

Whales Spotted Buying the Dip After 3-day Selling Spree

The 5% decrease in Shiba Inu’s price could be attributed to heavy selling by large investors (whales) who have taken advantage of the strong start to 2025 to realize their gains, as suggested by the recent trend. This theory is supported by a graph from IntoTheBlock that tracks daily transfers of SHIB tokens from wallets holding at least one percent of the total supply.

The graph indicates that Whales took advantage of the favorable beginning of the year by selling 466 billion SHIB, valued around $11.7 million, over a 3-day period from January 1 to January 3.

When whales make massive sell-offs during market rallies, it increases the short-term market supply, slowing down the price rise trend. This could be one reason why Shiba Inu’s price has failed to surpass the $0.000025 resistance in the past 24 hours, while meme coins like DOGE and PEPE have continued to grow.

Nevertheless, there’s a possibility of a reversal, given that recent figures indicate whales purchased approximately 67.5 billion SHIB tokens on January 4, halting a three-day downward trend. If these large investors maintain their buying momentum, the SHIB price might experience an early upturn, aiming again to surpass the $0.0000025 resistance in the coming week.

SHIB Price Forecast: More Consolidation Before $0.0000025 Breakout

In simple terms, it’s anticipated that the price of Shiba Inu will stay stable around its current level, which is less than $0.000030, for the upcoming week. Large investors, who have recently made a profit of about $14 million, seem to be taking notice again, but the decreasing trading activity suggests there isn’t enough power at this time to push past crucial resistance points quickly.

In simpler terms, when the Parabolic Stop and Reverse (SAR) indicator falls beneath the current market price, it suggests that buyers are in control and there could be more room for prices to rise.

If Shiba Inu (SHIB) regains its position at approximately 0.00002450 USD and maintains its upward trend, it may be able to surpass the crucial resistance level of 0.00002500 USD, which is close to the upper boundary of the Bollinger Band. If SHIB manages to break through this barrier, it could potentially trigger a rise towards 0.000030 USD.

Conversely, a decrease in trading activity and an overabundance of supply due to last week’s sell-off could potentially halt Shiba Inu’s progression upward.

If Shiba Inu (SHIB) doesn’t manage to maintain its position at approximately $0.00002200 (which is around the middle Bollinger Band), there’s a possibility that its price might drop lower, potentially reaching $0.00001923, which coincides with the Parabolic SAR trendline.

Ignoring this support could lead to an extension of consolidation down to approximately $0.00001800, a crucial lower support level.

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2025-01-05 13:44