Crypto Whales Buy 874 Billion SHIB Tokens at 13-Month Low, Price Jumps 1.5%

Shiba Inu (SHIB) has once again captured the attention of investors following a significant purchase by crypto whales. These whales acquired a total of 874 billion SHIB tokens during a period when the token's price hit a 13-month low. This large-scale buying activity has sparked both interest and uncertainty among investors, with some viewing it as a sign of long-term confidence in SHIB, while others see it as an attempt to capitalize on short-term market undervaluation.

The current price of Shiba Inu stands at $0.00001149, marking a notable increase over the past 24 hours. Despite the overall bearish market sentiment, investor whales continue to show strategic interest in SHIB. Large holders often seize opportunities to buy during times of market panic and fear, when other investors are selling off their positions. This accumulation phase suggests that SHIB's developers may be preparing for strategic moves, including the development of the Shibarium layer-2 ecosystem, NFT partnerships, and potential future listings. Whale investments during a bear market could indicate future price improvements.

Technical analysis of SHIB suggests that the token's price may experience a correction in the near future, driven by changes in market sentiment and technical indicators. The current bearish sentiment surrounding SHIB is attributed to economic difficulties and a lack of drivers for a rally. However, large investor accumulation activities often precede market changes. Observers will closely monitor key price points, as SHIB has received substantial bullish interest despite its recent price drop to 13-month lows. The short-term movement of the popular memecoin will likely be influenced by upcoming technical indicators and support levels.

Shiba Inu price analysis indicates that the token may experience a breakout or correction in the near future. A bullish breakout from an ascending trendline was observed in the 5-minute SHIB/USDT chart, but the price encountered resistance at $0.00001180. After a dramatic jump, the price settled in the $0.00001149 range. The price near $0.00001080 has established itself as a stable support level, demonstrating buyer interest in this range. The upward momentum of SHIB appears limited until it successfully breaks and closes above $0.00001180.

Analysis of SHIB reveals that whales' accumulation of the token may signal long-term prospects. The Relative Strength Index (RSI) reached its overbought zone during the latest price rally, indicating short-term saturation of buying sentiment across the market. Several positive MACD cross patterns have created brief upward price movements, but death crosses have alerted traders to market fatigue and correction points. The recent cross in the MACD indicator suggests weakening market momentum. SHIB will experience more price growth through sustained volume above $0.00001160–$0.00001180, but any lack of such volume could lead to price drops towards either the trendline or $0.00001120.

SHIB analysis indicates that the token's price may be poised for a breakout or correction. Whales increased their possession of 874 billion Shiba Inu tokens when the cryptocurrency price fell to its 13-month low, indicating potential distrust with long-term price increases or planned short-term manipulation of market values. Negative sentiment does not seem to deter large-scale buyers who accumulate SHIB, possibly due to the development of Shibarium and new ecosystem initiatives.

The price of SHIB experiences resistance at $0.00001180, with support standing at $0.00001080. The price is likely to rise after breaking above the $0.00001180 resistance point, provided there is strong buying momentum accompanied by high trading volume. When momentum declines, the price tends to move downwards back toward existing support levels.