In recent weeks, the activity of large Shiba Inu (SHIB) investors has surged, potentially signaling an impending recovery of the cryptocurrency.
Current Market Situation of SHIB
Currently, SHIB is trading around $0.00001571. The price is under pressure due to the consolidation phase and the descending trendline. However, a possible breakout from this trend could be on the horizon with rising inflows.
Resistance and Support Analysis
The next significant resistance level for SHIB is around $0.00001660. A breakout could drive an upward trend towards $0.00001700. However, $0.00001882 remains a critical level for a full recovery. The support at $0.00001500 is crucial, failing which a retest of $0.00001400 could occur.
Role of Whales in Market Movement
A more than 90% increase in inflows, largely due to whale activities, is indicative of potential preparation for price growth. Large holders typically accumulate SHIB before a price rise, suggesting readiness for a trend reversal.
While the short-term outlook for SHIB is still uncertain, the rise in inflows from large investors may signal an impending bullish move.
