Key Insights:
- Shiba Inu whale transactions jumped 20.69% in 24 hours, with over $26M moved across 80 large transactions.
- Shiba Inu’s price remained down 65% from the December 2024 highs, currently trading at $0.00001574.
- Analysts predicted a potential SHIB rebound, with upside targets of $0.00002913, $0.00003612, and $0.00004401.
Shiba Inu (SHIB) price has displayed a downward trend in recent weeks. However, SHIB’s whale activity has seen a significant boost.
This highlighted potential signs of an upcoming price increase. However, its current downward trend continues. An increase in SHIB whale transactions totaled over $25 Million within the last 24 hours. This happened as the volume surged by 20.69%.
At press time, the Shiba Inu price stood at $0.00001574. This further represented a 65% reduction from its December 2024 peak of $0.00003343.
SHIB faces continuous bearish pressure from the market. Yet, increased whale-dealing activity signifies possible market conditions for shifting. Large SHIB token transactions suggest major investors aim to capitalize on the potential future Siba Inu price recovery.
Whale Transactions Surge Amid Bearish Market
According to IntoTheBlock data, SHIB experienced 80 whale transactions exceeding $26.66 million during the last 24 hours. The $26.66 Million worth of trades represent a strategic shift within the SHIB trading sphere.
The number of whale transactions exceeding $100,000 has grown in frequency and Volume. Whale transaction activity has significantly increased in comparison to the recent period of dormancy. This showed 42 to 185 transactions per week.
Widespread whale transactions indicate a substantial change in market sentiment. When whales, or large holders, engage in such activity, it can be a precursor to price movements in either direction.
Shiba Inu may benefit from the rising participation of whale investors who seek profit opportunities in rising prices. Despite the SHIB price’s downward movement, these recent substantial transactions from large investors might establish conditions for future price growth.
Analysts Forecast Rebound with Potential Shiba Inu Price Targets
Shiba Inu price movements draw intense scrutiny from market analysts. Analysts detect signs that suggest the SHIB price could recover despite its ongoing decline.
Notably, data from Rose Premium Signals showed that the Shiba Inu performed multiple weeks of support. These supports were tested between $0.000015 and $0.000011 before potentially finding their price base.
If the support holds, the analyst suggests that SHIB could see a breakout. The price targets could reach $0.00002913, $0.00003612, and even $0.00004401.
Additionally, analyst Ali Martinez identified a potential upward movement in Shiba Inu price. He suggested this by observing a buy signal on the token’s weekly chart. This signal was based on the TD Sequential pattern analysis, a technical indicator that tracks price trends using candlestick data.
TD Sequential has provided mixed results in the past. However, it remains a tool that traders frequently rely on to predict potential trend reversals. Martinez’s observation suggests that, if the buy signal proves accurate, the SHIB price could experience an increase soon.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
