"SHIB Plunges 32%: Whales Accumulate Amid Market Turmoil"

Shiba Inu (SHIB), the popular cryptocurrency, has garnered significant attention as its price experienced a substantial decline over the weekend, dropping 32% to reach $0.000014. This marks the lowest price point for the token in five months, dating back to September 2024. Amid the price downturn, blockchain data reveals a notable surge in whale activity, suggesting large investors are actively accumulating the token.

The weekend sell-off came as broader market instability took hold, driven by recent developments in international trade relations. The situation has been particularly influenced by new tariff policies targeting China, Mexico, and Canada, leading many investors to reduce their exposure to more speculative assets.

Data from blockchain analytics platforms shows a dramatic increase in large transactions, rising from 1.5 trillion SHIB on January 31 to 4.3 trillion SHIB by February 2. These transactions, which track transfers from wallets holding at least 0.1% of SHIB’s total circulating supply, serve as a key indicator of whale activity in the market.

The increase in whale transactions during the price decline suggests that institutional and large-scale investors view the current price levels as an attractive entry point. Historically, such patterns of whale accumulation during market downturns have helped stabilize prices by absorbing selling pressure.

SHIB’s price movement has been more pronounced compared to other major alternative cryptocurrencies. While tokens like Solana (SOL), Chainlink (LINK), and Avalanche (AVAX) saw losses under 20%, SHIB’s 30% decline indicates that factors beyond general market conditions may be at play.

Technical analysis of SHIB’s price action suggests the formation of a corrective ABC pattern, with the recent drop potentially marking the completion of Wave C. This technical structure often precedes an upward price movement, particularly when supported by increased buying activity from large holders.

The $0.000013 price level has emerged as a crucial support zone, having previously served as a point of price reversal. Market observers note that a recovery above $0.000015 could generate momentum for a move toward $0.000018 in the near term.

Recent social media activity indicates growing concern among U.S. consumers about potential inflation-driven price increases. This sentiment has contributed