Whales are collecting Shiba Inu (SHIB): A 400% increase is possible!

According to Onchain data, SHIB whales may be getting ready for a possible rally by taking action again.

The increase in SHIB whale activity by over 7,000 percent in the last 7 days has increased confidence in the memecoin. The SHIB price fell by 0.6 percent in the last 24 hours to $0.00001880. The price is currently trending sideways. However, the intense accumulation of SHIB by whales may be signaling a rally.

Whale Accumulation with a 7,000% Increase Signals a Rise in Shiba Inu

SHIB whales have been making heavy purchases over the past week. According to IntoTheBlock (ITB) data, whales have increased their SHIB holdings by 7,469 percent in the last 7 days. This development indicates that large investors are showing increasing interest in the memecoin.

Famous crypto analyst Javon Marks maintains his previous prediction that SHIB price will rise to $0.000081. According to Marks, SHIB’s Relative Strength Index (RSI) is indicating a falling wedge bullish formation on the daily chart. If the analyst’s prediction comes true, this would mean a 4x increase from the current price.

The Shiba Inu chart shows the popular altcoin breaking out of a symmetrical triangle formation. This triangle is trading between the $0.00002050 resistance and the $0.00001260 support levels. The price is currently trading above the upper trend resistance of the triangle. The pair needs to gain more volume to break through the $0.00002050 level.

If the resistance level is broken, the price is expected to first increase by 45 percent to $0.00002, then increase by 68 percent to $0.000032 and finally reach the target of $0.000081.

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