Shiba Inu (SHIB), the popular dog-themed meme coin, is showing signs of a potential rebound as large-scale investors ("whales") accumulate 10.4 trillion SHIB tokens amid recovering market conditions. This strategic accumulation, coupled with bullish technical patterns and improved on-chain metrics, suggests a possible upward trajectory for SHIB's price.
Key Developments
- Whale Activity: Whales purchased 10.4T SHIB (~$110M) during SHIB's recent 16-month low, signaling confidence in a rebound.
- Technical Breakout: SHIB formed an inside-week candle and broke out on 6x average volume, hinting at trend reversal potential.
- Profitability Surge: Over 100.54T SHIB tokens are now "in the money," reducing short-term sell pressure.
- Price Targets: If resistance at $0.000013–$0.0000156 breaks, next targets are $0.00002–$0.000025.
Whale Accumulation: A Bullish Signal
Whales acquired 10.4T SHIB during SHIB's sharp 27% decline (mid-May to late June), coinciding with a price bottom of $0.00001005. Historically, such accumulation precedes price reversals, as large investors often anticipate market shifts before retail traders.
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Technical Indicators Favor a Rebound
- Inside-Week Candle: This pattern indicates seller exhaustion and potential buyer dominance.
- High-Volume Breakout: The June 29 surge on 6x average volume confirmed strong momentum.
RSI & MACD:
- RSI rebounded from 30 (oversold) to 42.05, supporting upward movement.
- MACD histogram turned bullish, with the trend line crossing above the signal line.
On-Chain Metrics Support Optimism
- Profitability: Over 100.54T SHIB (~$1.16B) is now profitable, boosting holder confidence.
- Support Levels: Strong demand exists at $0.00001000–$0.00001160, with resistance at $0.000013 (50-day MA)** and **$0.0000156 (200-day MA).
Price Forecast and Key Levels
| Scenario | Trigger | Target |
|-----------------|----------------------------|----------------|
| Bullish Breakout | Close above $0.000013** | **$0.00002 |
| Strong Rally | Break $0.0000156** | **$0.000025 |
| Bearish Rejection | Fall below $0.000010** | **$0.000008 |
FAQs
Q: Why are whales buying SHIB now?
A: Whales often accumulate during price lows to capitalize on future rebounds. Their $110M purchase suggests long-term confidence.
Q: What’s the significance of the inside-week candle?
A: It signals market indecision after a downtrend, often preceding reversals when paired with high volume.
Q: How does SHIB’s profitability affect its price?
A: With 100.54T SHIB profitable, holders are less likely to sell, reducing downward pressure.
Q: What’s the next major resistance level?
A: $0.000013 (50-day MA) is the immediate hurdle; a breakout could accelerate gains.
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Conclusion
SHIB’s recent whale accumulation, technical recovery, and improving on-chain metrics paint a cautiously optimistic picture. Traders should watch for a close above $0.000013 to confirm bullish momentum. While risks remain, the alignment of whale activity, volume spikes, and key support levels suggests SHIB may be gearing up for its next leg up.