TLDR
- Whale Activity: 10.4 trillion SHIB tokens ($110M) accumulated during recent price drops
- Price Action: Formed an "inside week" candle pattern after dropping 27% to 16-month lows
- Breakout: June 29 saw 5.8x average volume with resistance at $0.00001198
- Technical Outlook: RSI at 43.17 suggests possible upward momentum; $0.000025 target if $0.00001733 resistance breaks
Whale Accumulation Highlights Market Confidence
Shiba Inu (SHIB) has shown signs of stabilization following a 27% decline since mid-May, bouncing 11% from its 16-month low of $0.00001005. Large investors seized the opportunity, acquiring **10.4 trillion SHIB tokens** (worth ~$110M) during the dip—a strong indicator of long-term confidence.
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Key Pattern: The "Inside Week" Candle
SHIB's recovery formed an "inside week" candle—where trading range sits entirely within the prior week’s range. This pattern often signals:
- Seller exhaustion
- Potential trend reversal
- Consolidation before upward movement
Volume Breakout and Momentum Shift
On June 29, SHIB broke out of consolidation with 5.8x average trading volume, pushing prices from $0.00001147 to $0.00001198. Key observations:
- Resistance: Strong selling pressure at $0.00001198
- Support: Established near $0.00001160 post-pullback
- Institutional Activity: Volume spikes (>8M USDT) marked reversal points
Technical Analysis: Road to Recovery?
Indicators to Watch
- Relative Strength Index (RSI): Currently 43.17 (neutral), up from 36.90
- MACD: Bearish momentum weakening
- Regression Channel: Similar to prior patterns preceding rebounds
Price Targets
- Immediate Resistance: $0.00001733 (breakout level in last rally)
- Long-Term Target: $0.000025 (100%+ upside) if resistance clears
FAQs
Q: Why are whales buying SHIB now?
A: Accumulation at lows suggests strategic positioning for potential recovery, leveraging depressed prices.
Q: What does the "inside week" candle mean?
A: It indicates market indecision, often preceding trend reversals after prolonged declines.
Q: How reliable is the $0.000025 target?
A: Based on historical patterns; requires confirmed breakout above $0.00001733 with sustained volume.
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Conclusion
With whale accumulation, technical patterns aligning, and volume breakouts, SHIB appears poised for potential upside. Traders should monitor the $0.00001733 resistance level for confirmation of sustained momentum.