Shiba Inu Whales Accumulate 1.63 Trillion As SHIB Crashes 10%, Will Price Bounce?

by

On Wednesday, the value of Shiba Inu (SHIB) plummeted significantly, decreasing more than 10% in just 24 hours. This decline shattered significant support points after a broader market adjustment that wiped out the positive momentum from the recent bullish phase. Interestingly, despite this drop, large investors managed to accumulate approximately 1.63 trillion SHIB tokens. Similarly, Bitcoin experienced a substantial dip, falling below $96k, which has influenced investor sentiment. At present, market participants are eagerly watching for indications of a possible price recovery amidst the prevailing market ambiguities.

Shiba Inu Whales Buy 1.63T SHIB After 10% Price Crash

The cost of SHIB has fallen by 10%, now standing at approximately $0.000021, due to the wider cryptocurrency market experiencing forced selling, also known as liquidation pressures. This unexpected drop underscores the continued instability in the market, and substantial actions taken by major investors or “whales” seem to be shaping the market’s behavior.

On January 7, 2025, it was reported by Whale Alert that a significant transaction occurred, involving the transfer of 1.63 trillion SHIB tokens, worth approximately $39 million. These tokens were transferred from Crypto.com to an unidentified wallet. This activity took place after a recent decline in the price of SHIB, sparking discussions about whale strategies and their potential influence on the price movements of SHIB.

Regardless of the current obstacle, some investors view these ‘whale’ actions as a possible precursor to a price surge. As the market anticipates a recovery, analysts are keeping a close tab on Shiba Inu’s behavior, looking for indications that it might become more stable.

1,636,940,000,000 #SHIB (39,038,563 USD) transferred from #CryptoCom to unknown wallet

— Whale Alert (@whale_alert) January 7, 2025

SHIB Technical Analysis

Looking at the price movements of Shiba Inu, it appears to be following a typical cup-and-handle pattern, which is generating optimism among traders. This pattern, illustrated by a cup-like curve, signifies a phase of accumulation followed by a minor consolidation stage, known as the handle. These technical configurations usually indicate a powerful bullish surge, and the digital currency could potentially reach targets at approximately $0.00003287 and $0.00005339. If this breakout occurs, it would provide an impressive increase of around 62.53%, according to past trends.

Investors looking to profit from the trend of SHIB might find a profitable entry point within the price range of $0.0000161 to $0.0000193, which currently serves as a strategic zone for buying. At the moment, Shiba Inu is accumulating near $0.00002151, slightly above this range, suggesting that it could gather strength before making a breakout. If the current trend continues, Shiba Inu could potentially follow an upward trend extending into mid-2025, fueled by substantial increases in trading volume.

Shiba Inu Price Targets For January 2025

As a crypto analyst, I’ve found myself delving into the predicted movements of Shiba Inu (SHIB), a digital currency that’s piqued the curiosity of many investors seeking profitable opportunities in the cryptosphere. Based on my technical analysis, there appear to be two significant targets for SHIB that merit our attention.

The initial goal, known as the Neckline, is positioned at $0.00003287, which could yield a profit of approximately 103% if you buy within this range. If the market continues to rise as projected, the second target lies at $0.00005339, promising a substantial 230% return for long-term investors. Keep in mind that the chart indicates a strategic buying point, which is ideal before the expected bullish surge.

Large investors (whales) of Shiba Inu coin have acquired approximately 1.63 trillion SHIB tokens following a 10% drop in price, sparking discussions about a possible price surge recovery. The current chart configuration points towards robust bullish tendencies, with SHIB potentially increasing by as much as 230% if the trend persists. As markets continue to fluctuate wildly, investors are keeping a close eye on the coin’s price movements for potential investment opportunities.

Read More

2025-01-08 12:54