Shiba Inu (SHIB) has experienced a 12% decline over the past month, struggling to break the $0.000015 resistance level and facing rejection from its descending triangle pattern. This bearish momentum pushed SHIB down to a two-week low of $0.000012 before showing signs of accumulation from both retail traders and whales.
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. With its Stochastic RSI plummeting from 100 to 4.23, indicators suggest 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.
Can Shiba Inu reclaim $0.000015?
The accumulation phase suggests a 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.
As market conditions evolve, whale movements and overall buy-side pressure will play a crucial role in determining whether SHIB sees a sustained recovery or deeper losses.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
Note: This article has been refined and enhanced by ChatGPT.
