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Shiba Inu (SHIB) experienced a sharp 10% decline on Wednesday, falling to $0.000021 amid a wave of market-wide selling pressure. The crash broke critical support levels, mirroring the broader crypto market’s struggles as Bitcoin dipped below $96K, further dampening investor sentiment. However, while most investors grew cautious, Shiba Inu whales saw an opportunity, accumulating a staggering 1.63 trillion SHIB tokens in a single transaction valued at $39 million.
This massive move, recorded on January 7, 2025, was flagged by Whale Alert, showing tokens transferred from Crypto.com to an unidentified wallet. Such accumulation during bearish phases often hints at strategic positioning for a rebound, fueling speculation of a potential rally in the near term.
Bullish Technical Setup: Cup and Handle Pattern 📊🔥
The Shiba Inu price chart reveals a classic "cup and handle" pattern, which has sparked optimism among technical analysts. This pattern signifies accumulation followed by a period of consolidation, often leading to a major bullish breakout.
Key Levels to Watch:
Buy Zone: $0.0000161 - $0.0000193
First Target: $0.00003287 (+103%)
Second Target: $0.00005339 (+230%)
Currently, SHIB is consolidating just above its buy zone at $0.000021, suggesting whales and traders are preparing for a potential breakout. Strong volume inflows and stabilization above these levels could propel SHIB toward the outlined targets.
Market Sentiment and Recovery Hopes 💰🚀
Despite recent setbacks, the strategic whale activity hints at confidence in SHIB’s long-term potential. Investors are keeping a close eye on broader market conditions, particularly Bitcoin’s movements, as SHIB’s price often correlates with general crypto sentiment.
Will SHIB Bounce Back?
With its technical setup aligning with whale accumulation, Shiba Inu could be poised for a significant recovery. If the cup and handle pattern holds, analysts project a 62.53% breakout, potentially setting SHIB on a steady upward trajectory into mid-2025.
However, as always, market volatility remains a factor, and cautious optimism is advised. For now, the crypto community watches closely—will Shiba Inu unleash another rally and deliver massive gains to its loyal investors? Stay tuned! 🔥🐕💎#Shibarium #shiba #BTC☀ #ETH #Binance