Shiba Inu Price Forecast: Whales spotted buying 34 trillion SHIB amid crypto market dip

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As a Shiba Inu investor, I experienced a significant setback last week when the price dipped by 15% to hit the $0.000020 mark on January 11. However, recent on-chain data suggests that large investors are seizing this opportunity to purchase at lower prices, potentially signaling a major bullish reversal for SHIB.

Shiba Inu price finds support at $0.000020 support as sell-pressure subsides

On Friday, I observed a noticeable stabilization in the Shiba Inu price, following a prolonged period of decline influenced by economic uncertainties and amplified market sell-offs. Earlier this week, SHIB experienced a significant dip, mirroring the broader altcoin market’s downturn that was sparked by external factors such as apprehensions surrounding the U.S. Department of Justice’s potential $6.5 billion Bitcoin liquidation.

On the period from January 7th to January 10th, the value of the meme token plummeted by around 15%. This decline tested a significant support level at approximately $0.000020. As the selling pressure subsided and investors became more cautious, this level proved crucial as buyers began to slowly re-enter the market. Subsequently, SHIB experienced a moderate recovery of about 3% over the last 24 hours, pushing its value up to $0.000021 at the time of press on January 11.

The drop from 0.000020 indicates a strong desire to halt any further decline, with pessimism still prevalent. As SHIB’s price could stabilize between 0.000020 and 0.000022, traders are waiting for a broader market upturn before making significant moves.

Keeping an eye on the upcoming major market triggers, Shiba Inu’s price trend tends to closely mirror the overall sentiment within the cryptocurrency market. If it manages to surpass the resistance at $0.000022, this could signal a possible recovery. However, if bearish trends persist, renewed selling activity may occur.

At the moment, it seems like the meme token has established a temporary base around the $0.000020 psychological resistance level.

Whales spotted buying 34 trillion SHIB during the market dip

Last week, there was a significant increase in Shiba Inu’s price due to increased buying by large investors (whales). This happened while other markets faced difficulties due to external factors. The problems originated from the U.S. Department of Justice’s upcoming liquidation of Bitcoin worth $6.5 billion, which caused rapid selling throughout the cryptocurrency market.

Regardless of Shiba Inu (SHIB) plummeting to $0.000020, significant investors kept a positive perspective, taking advantage of the situation by buying in substantial quantities at reduced costs.

Information from IntoTheBlock’s on-chain analysis indicates a substantial rise in the Shiba Inu (SHIB) holdings of large-scale investors, defined as those possessing at least 0.1% of the total SHIB supply, during market declines.

From the graph provided, it appears that whale wallets purchased approximately 34 trillion SHIB over the past 4 days, likely taking advantage of lower prices. This increase in holdings coincides with a temporary price rebound for the token to around $0.000022 by January 10th.

The intense buying spree indicates that large investors (whales) are generally optimistic, despite the current market being unstable. Previous whale behavior has often preceded substantial price changes, so their actions during this slump might pave the way for an upturn within the next few weeks.

Shiba Inu price forecast: Prolonged consolidation before $0.000030 breakout

At the moment, it seems like the SHIB price trend is indicating a period of prolonged consolidation. This is due to the bulls encountering strong resistance at approximately $0.000025, while still managing to hold above $0.000020. The increased activity of large investors (whales) buying Shiba Inu adds a sense of stability to its price fluctuations, boosting optimism for the meme token in an uncertain market environment.

Technical indicators on the SHIBUSD chart also support this neutral stance.

As a crypto investor, I’m closely watching Shiba Inu (SHIB). Right now, the coin is trading around $0.00002207, moving within a narrow band. The Bollinger Bands on the chart are getting squeezed together, which typically indicates lower volatility and could mean an upcoming breakout. At the moment, SHIB’s price is sitting above the lower Bollinger Band at $0.00002009, serving as a significant support level for me.

In simpler terms, the price level around $0.00002233 serves as a potential turning point, whereas higher prices close to $0.00002457 could encounter resistance (difficulty in rising further).

If the price of SHIB surpasses $0.00002457, it might potentially drive the token up to around $0.000030, due to growing whale activity and a resurgence in buying interest. The Relative Strength Index (RSI), standing at 44.18, implies SHIB is in a moderately oversold state but still within the neutral range. A rise above 50 on the RSI could indicate strong bullish sentiment, encouraging buyers to further boost prices.

Instead, if the price falls and drops below $0.00002009, it might lead to additional decreases. Dropping below this support level could increase downward pressure, possibly pushing SHIB towards $0.00001800.

To put it simply, the tightening Bollinger Bands and low trading activity imply that Shiba Inu (SHIB) might continue moving within a specific price range until new factors that stimulate growth appear in the market.

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2025-01-11 13:29