Shiba Inu coin price has reached an important support level, with significant accumulation occurring among large investors and so-called 'smart money'.
Whale and Smart Money Investor Activity
Shiba Inu coin price was trading at $0.00001225, down 25% from its peak in July and over 63% from its November high. Major firms and large investors continue to accumulate SHIB coins, indicating potential improvements in the near term. According to Nansen data, whales have increased their holdings to 12.12 billion coins, significantly up from the August low of 11.8 billion.
Price Analysis of Shiba Inu
Recent data indicates that Shiba Inu price has been under pressure, falling from $0.000016 in July to the current $0.00001220. This price is significant as it aligns with the ascending trendline connecting the lowest swings since April last year. This suggests that bears are cautious about shorting below this level.
Future of Shiba Inu
Given the current situation, the coin may likely rebound and retest the key resistance point at $0.00001600, which is 32% above the current level. Investors, according to statistics, are not rushing to sell, and the supply of SHIB on exchanges has dropped to 282.7 trillion.
Rapid changes in the investment activity of major players and current support levels for Shiba Inu may indicate a possible price recovery in the near future.
