Shiba Inu whales are showing bullish signals amidst the falling bear momentum, buying $60 million worth of SHIB in a day. ADX at 25.0% indicates that the bear trend is weakening. If the buy support increases, the price may start to recover. SHIB must break the $0.00002341 resistance for a 50% recovery, while $0.00002093 is the critical support to prevent losses.
Shiba Inu is struggling to regain its bullish momentum, with the price chart reflecting limited recovery efforts. The meme coin remains well below its previous highs, having failed to recoup its recent losses. However, one analyst is noting that 2025 could bring significant growth for Shiba Inu, with SHIB potentially approaching its all-time high (ATH).
Shiba Inu Whales Rising$SHIB
Shiba Inu whales continue to buy in anticipation of a near-term bullish rally. In one notable transaction, addresses holding 0.1% of the SHIB supply purchased 2.79 trillion SHIB, worth more than $60 million in 24 hours. This massive purchase suggests that whales are taking action in anticipation of a price increase.
This trend is not limited to a single event; similar large-scale buying was observed throughout the month. These moves suggest that large investors are preparing for a potential exit and strengthening SHIB’s position in the market. Whale activity usually signals bullish expectations for the asset.
The overall momentum of Shiba Inu suggests that a change in trend is possible. The Average Directional Index (ADX) is currently at 25.0%, indicating that the strength of the bearish trend is weakening. If the ADX falls below this level, it means that the downward pressure is over, creating potential room for a recovery in the SHIB price.
The weakening bearish momentum, in line with the increasing whale activity, suggests that investor sentiment around SHIB is improving. If the ADX declines further, this could be a catalyst for an upside move, but for this, SHIB will need to receive sufficient buying support from retail and institutional investors.
Shiba Inu price remains stuck below the $0.00002341 resistance, which is preventing SHIB from recovering recent losses and making it difficult to continue towards $0.00003306. This critical level is preventing the price from gaining upward momentum and is delaying any significant recovery in the near-term.
However, the above-mentioned bullish factors suggest that SHIB could surpass the resistance near $0.00002606. With the continued whale activity and increasing bullish sentiment, SHIB could clear these hurdles and push its price higher.
The short-term target is for SHIB to recover recent losses and break above $0.00003306, which would imply a 50% increase from the current price. However, for this to happen, the $0.00002976 level would need to become support soon.
If SHIB fails to clear the $0.00002341 resistance, the price could consolidate towards the $0.00002093 levels. A drop below this level would invalidate the bullish outlook and further highlight the role of key support and resistance levels for the price’s chances of a recovery.