This article analyzes the recent increase in Shiba Inu （SHIB） purchases by cryptocurrency whales and what it could mean for the token’s future price movements. It also examines the current market dynamics and technical indicators for SHIB.
Points
- Shiba Inu has seen a price recovery after hitting a six-month low, with increased interest from crypto whales.
- A new whale purchased over 220 billion SHIB, contributing to a boost in market confidence.
- Despite the recent upward movement, SHIB’s overall trend remains bearish, with potential for a pullback.
Shiba Inu （SHIB） has experienced a notable price recovery following a significant downturn, with the token reaching a six-month low. This rebound has been driven, in part, by increased purchases from cryptocurrency whales, who are taking advantage of the lower prices to accumulate large amounts of SHIB.
One of the most significant recent transactions was made by a new whale, identified by Arkham Intelligence, who purchased 220.34 billion SHIB via Coinbase in the last 48 hours. This investment, totaling $3.11 million, has not only increased the number of long-term SHIB holders but has also bolstered market confidence, even as the token remains under pressure.
Despite the recent price increase, the overall trend for SHIB remains bearish. The token is still trading below its 50-day and 200-day Exponential Moving Averages （EMAs）, which are key indicators of market sentiment. While the short-term upward correction has provided some relief to investors, SHIB’s price must break through significant resistance levels to establish a more sustainable upward trajectory.
Technical indicators, such as the Relative Strength Index （RSI） and the Chaikin Money Flow （CMF）, suggest that SHIB’s price is still under pressure and may face a pullback in the near future. The RSI indicates that the token is approaching overbought territory, while the CMF suggests that capital inflows are not strong enough to support a prolonged rally.
For investors, the recent whale activity in SHIB could signal a potential rebound, but caution is advised. The token’s price will need to overcome key resistance levels and maintain increased trading volume to sustain its upward momentum.
解説
- The increase in Shiba Inu purchases by crypto whales is a significant development that could influence the token’s price trajectory. Whale activity often signals strong market sentiment, and in this case, it may indicate that larger investors believe SHIB is undervalued at current levels.
- However, the overall bearish trend for SHIB cannot be ignored. The token remains under pressure, and the recent price recovery may be temporary unless SHIB can break through key resistance levels and maintain higher trading volumes.
- Investors should closely monitor technical indicators and market dynamics before making any decisions. While the whale purchases are a positive sign, they do not guarantee a sustained rally, and the potential for a pullback remains.