Shiba Inu Price Sits on the Brink – WHALE BUYS 275 BILLION COINS!!!

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Good news, SHIB fans! Despite being in a deep retracement, the price might be about to stage a comeback – thanks to some whales who have been accumulating those coins hoping it would rebound 🐳. The 257.5 billion SHIB coins bought by one of these whales, worth $4.6 million, might be just the catalyst we need for a price boost 💸.

Shiba Inu Price Could Be About to Get a Boost Thanks to Whales

And it’s not just that one whale – Shiba Inu balances on exchanges have been steadily decreasing since last April. Right now, there are 86.22 trillion SHIB coins out there, which is fewer than what was there just a few months ago. This suggests that more and more people are holding onto their SHIB, rather than selling it 💪

Another sign that this price might be about to go up is the MVRV indicator, which is known for predicting price movements. And right now, it’s indicating that SHIB is due for a rebound. We’ve seen this pattern play out in June, July, and August last year, and it might just happen again 💥

SHIB Price May Soon Make a Breakout

Technically speaking, the price is forming a falling wedge, which often precedes a strong upward move. This means that if the price rises above the upper line of the wedge, it’s possible that we’ll see a price of $0.0000333, a whopping 77% increase from the current level 🚀

The other technical indicators are looking pretty promising too – the Average Directional Index (ADX) is decreasing, which suggests that the downward trend is losing steam. And the Relative Strength Index (RSI) is near the oversold level, which often indicates a bullish reversal 🚫

Of course, there is a risk that the price could take a tumble – if the 200-day and 50-day weighted moving averages form a death cross, it could be a sign of bad news for SHIB holders. But for now, let’s focus on the positives 🤞

Risk Time? SHIB Coin Price Might Be About to Drop

So there you have it – the latest on the SHIB price. Will it make a strong comeback or will it continue to drop? Only time will tell 🤔. But for now, it’s looking like SHIB fans have got reason to be optimistic 🚀

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2025-01-28 19:24