Shiba Inu Coin (SHIB) price struggles, but whales are hoarding it like crazy. Is a bull market reversal coming soon?
Such whale movements are often a prelude to large-scale price fluctuations. They enter the market either to accumulate stocks or to start the buying accumulation phase. Although SHIB's short-term price trend is not good at the moment, these transactions reveal confidence in its long-term potential. This move has caused a stir on social media, and some people predict that SHIB may have a big move in the coming months.
Although SHIB's short-term price trend is not good at the moment, these transactions show that the market has confidence in its long-term potential. This move has caused a stir on social media, and some people boldly predict that SHIB may have a "big move" in the coming months.
In the past 24 days, it has fallen by more than 10% in a single day, and its current price is $0.0000217. This decline is in line with the overall sluggish tone of the crypto market, and many assets have experienced a sharp correction.
SHIB’s market cap of $12.78 billion fell 8.75%, in sync with the price trend, but its trading volume “bumped” by a whopping 78.87% to $867.4 million.
This wave of trading volume growth may be due to increased market activity and the response of traders and investors to whale transfers, as everyone speculates on the next direction of the token.
Over the past week, retail investors have been anxious due to continued selling pressure.
Its weekly chart shows a classic “cup and handle” pattern, which is a common precursor to a rise. According to this model, Shiba Inu Coin’s target price is expected to reach $0.000066651, an astonishing increase.
It is estimated to be worth $0.000155 in 2025. Max detailed the reasons for his optimism, including the increasing attention to new uses of the SHIB network and the all-round growth of the Shiba Inu network.
Furthermore, the Shibarium Layer 2 blockchain and the SHIB metaverse are also progressing steadily. Max said that they are powerful engines for long-term growth.
However, the 1-hour chart shows that this meme coin is currently dominated by a bearish trend, and the price is trapped in a downward channel. Since the price hit a local high of $0.00002409, selling pressure has continued, and the cost has been continuously pushed down, finding temporary support at about $0.00002125.
