Shiba Inu (SHIB) has recently been in the news as large investors, known as “whales,” have been buying up large amounts of the cryptocurrency. This increase in whale activity could be a sign that something bigger is about to happen for SHIB. As more people follow these moves, the market could react, potentially pushing the price of Shiba Inu higher. In this article, we’ll explore what this whale accumulation means for the future of SHIB and how it could impact its price.
Shiba Inu Prices: From Record Highs to Market Momentum
Shiba Inu is currently priced at $0.00001778, with a 24-hour trading volume of $334.91 million, a market cap of $10.48 billion, and a market dominance of 0.45%. Over the past 24 hours, SHIB price has decreased by 4.38%.
Shiba Inu reached its peak price on October 28, 2021, reaching an all-time high of $0.00008819. Its lowest price was recorded on November 28, 2020, at $0.0000000005637. Since its all-time high (ATH), the lowest price it has reached is $0.00005821 (the lowest in the cycle) and the highest price since then is $0.00004501 (the highest in the cycle). Currently, the market sentiment for SHIB is bullish, with the Fear & Greed Index showing 71, indicating “Greed”.
The Shiba Inu has a circulating supply of 589.27 trillion SHIB, with a maximum supply of 589.74 trillion SHIB. The annual supply inflation rate is -0.01%, meaning 79.56 billion SHIB have been removed from circulation over the past year.
Whale Activity Signals Potential SHIB Price Surge
The recent developments of Shiba Inu show the potential for a price breakout, driven by a combination of bullish signals. The 14.575% burn rate, which removed 279 million SHIB from circulation, is significant in reducing supply.
This reduction in supply, combined with the trend of SHIB being moved off exchanges and into private wallets, suggests that large holders, or whales, are accumulating and tightening the supply available for trading. As exchange supply decreases, there will be less SHIB available for retail investors to purchase, which could push the price up if demand increases.
The consolidation phase, when SHIB was trading between $0.000016 and $0.000018, reflected a period of indecision in the market. However, the narrowing Bollinger Bands suggest that this phase may soon end, potentially triggering a breakout.
Whale accumulation, as evidenced by the 15% increase in SHIB flows from large holders over the past week, continues to signal that large investors expect prices to rise in the future. This buying activity from whales often precedes market rallies, as it creates scarcity and boosts market confidence.
It is predicted that if this whale-driven demand continues and more retail investors follow suit, SHIB could break above the $0.000018 resistance level. Once this barrier is overcome, SHIB could experience significant upside momentum.
However, this outcome will largely depend on the continued buying pressure and whether retail investors participate in this buying spree. With the current market sentiment leaning towards the bullish trend, SHIB has the potential to make a strong breakout in the coming time.
Shiba Inu Price: Significant Upside Potential
The price of Shiba Inu (SHIB) has shown significant growth over the past year, with a whopping 159% increase. This growth has outperformed 65% of the top 100 crypto assets and even surpassed the performance of heavyweights such as Bitcoin and Ethereum. SHIB’s strong liquidity, driven by its market capitalization and its current trading position above the 200-day simple moving average (SMA), are indicators of positive momentum. The asset has also seen 16 green days out of the last 30 days, equivalent to 53% of the days in recent trading, further signaling continued upside momentum and investor confidence.
However, SHIB is still down 80% from its all-time high, leaving plenty of room for recovery. The combination of the current price trend, consolidation phase, and increasing whale activity suggests that SHIB could break the current resistance at $0.000018. If SHIB breaks this range, a move towards its previous high becomes more plausible. The narrowing Bollinger Bands suggest that a breakout could happen soon, which, coupled with whale accumulation, is likely to attract more retail investors, pushing the price higher.
Looking ahead, if market conditions remain favorable, SHIB could continue its uptrend. While a break above the all-time high of $0.00008819 may take time, a more immediate target would be the next resistance level around $0.000045, which represents a significant upside from current levels. The negative annual inflation rate of -0.01%, which reduces the overall supply, combined with increased demand from large holders, should provide the conditions for SHIB to continue its upward price movement.
In summary, key factors such as strong liquidity, bullish sentiment, and whale accumulation suggest that SHIB could see a strong rally. If the market momentum continues, SHIB could target a price range of $0.000045 to $0.00008819 in the long term, depending on whether sustained demand supports the breakout. However, investors should keep an eye on market corrections or external factors that could affect overall market movements.
