Shiba Inu (SHIB) cryptocurrency has experienced a 12% decline over the past month, struggling to break the $0.000015 resistance level. However, the activity of large investors and whales may signal a potential recovery.
Current Quotes and Technical Indicators
As of this writing, SHIB is trading at $0.00001217, marking a 4.02% decline on daily charts, a 7.4% drop over the past week, and a 12.34% increase in a month. The drop in Stochastic RSI from 100 to 4.23 suggests that the downward momentum is still strong.
Whale Activity and Accumulation Trends
Despite the downturn, whales and retail investors are aggressively accumulating SHIB at lower price levels, which could signal a potential recovery. Large holders purchased 317.63 billion SHIB in the past 24 hours, a significant increase from 148.6 billion SHIB the previous day. Meanwhile, whale outflows remain low at 110 billion SHIB, leading to a net inflow of 206.9 billion SHIB. Coinglass data shows SHIB’s netflow dropping to -2.06 million, reflecting increased exchange withdrawals—typically a sign of accumulation.
Possibility of Reclaiming $0.000015
The accumulation phase suggests bullish sentiment among investors, with expectations that SHIB could retest the $0.000015 resistance level if demand remains strong. However, if bulls fail to reverse the trend, SHIB could drop further toward $0.0000108, aligning with the lower boundary of its descending price channel. Whale movements and overall buy-side pressure will play a crucial role in determining whether SHIB sees a sustained recovery or deeper losses.
Thus, despite the recent decline, whale activity and overall investor sentiment could lead to a recovery in SHIB's price if demand remains steady.
