Shiba Inu Whales Are Going Crazy Buying! After a 10% Crash, Will SHIB Bounce Back 230%? 🚀

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On Wednesday, Shiba Inu (SHIB) experienced a significant drop of 10%, falling to $0.000021 and breaking through a key support level, reflecting the struggles of the entire crypto market, especially as Bitcoin dipped below $96,000. Market sentiment is low; however, whales see an opportunity amid this market pressure, executing a large transaction worth $39 million, involving 1.63 trillion SHIB tokens.

Whales Making Big Moves: Strategic Positioning Indicates Bounce Opportunities

On January 7, 2025, the whale transferred a massive amount of SHIB tokens on Crypto.com, indicating a strategic positioning during the bear market, which usually suggests the potential for a future rebound, igniting market expectations for a bounce.

Technical Analysis: Cup and Handle Pattern Suggests Bullish Rebound

The price chart for Shiba Inu has formed a classic "cup and handle" pattern, which is often a precursor to a bullish breakout. Technical analysts believe that SHIB may be poised for a significant rebound.

Key Price Levels:

Buying Range: $0.0000161 - $0.0000193

First Target: $0.00003287 (+103%)

Second Target: $0.00005339 (+230%)

Currently, SHIB is consolidating above $0.000021, with whales and investors preparing for a breakout.

Market Sentiment and Hopes for Recovery

Despite the setbacks, the actions of whales indicate confidence in SHIB's long-term potential. Investors are closely watching Bitcoin's movements, as SHIB's price is typically influenced by overall market sentiment.

What Are the Chances of a SHIB Bounce?

Combining technical patterns and whale accumulation, SHIB may be ready for a 62.53% breakout, expected to enter a steady upward trajectory by mid-2025.

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