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CoinGape 2025-01-08 09:51:53

Shiba Inu Whales Accumulate 1.63 Trillion As SHIB Crashes 10%, Will Price Bounce?

Shiba Inu (SHIB) price fell sharply on Wednesday, dropping over 10% in the past 24 hours. The decline broke crucial support levels following a market-wide correction that erased gains from the recent bullish trend. Despite the drop, whales accumulated 1.63 trillion SHIB tokens. Bitcoin also suffered a notable drop, breaking below $96k, impacting market sentiment. Investors now await signs of a potential price rebound amid market uncertainties. Shiba Inu Whales Buy 1.63T SHIB After 10% Price Crash The SHIB price has dropped by 10%, currently at $0.000021, as the broader crypto market faces liquidation pressures. The sudden downturn highlights ongoing volatility, with significant moves by large holders or “whales” contributing to the market dynamics. A notable transaction caught attention on January 7, 2025, as Whale Alert reported a massive transfer of 1.63 trillion SHIB tokens. Valued at $39 million, the SHIB tokens moved from Crypto.com to an unidentified wallet. This activity followed the recent price slump, raising speculation about whale strategies and their impact on SHIB’s price action. Despite the setback, some investors see these whale movements as a potential setup for a price rebound. With the market eyeing recovery, analysts are closely watching Shiba Inu’s performance for signs of stabilization. 1,636,940,000,000 #SHIB (39,038,563 USD) transferred from #CryptoCom to unknown wallet https://t.co/3J9xiNndj3 — Whale Alert (@whale_alert) January 7, 2025 SHIB Technical Analysis Shiba Inu’s price chart reveals the formation of a textbook cup and handle pattern, sparking bullish sentiment among traders. The cup-shaped curve showcases a period of accumulation followed by a smaller consolidation phase, forming the handle Such technical setups often signal a strong bullish breakout, with the meme coin aiming for potential targets at $0.00003287 and $0.00005339. The anticipated breakout offers a substantial upside of 62.53%, based on historical data. The buying zone, ranging from $0.0000161 to $0.0000193, provides a strategic entry point for investors seeking to capitalize on the trend. The SHIB is currently consolidating near $0.00002151, just above this range, indicating a potential for accumulation before a breakout. If the pattern holds, Shiba Inu may experience a steady upward trajectory into mid-2025, supported by strong volume inflows. Shiba Inu Price Targets For January 2025 The Shiba Inu price prediction has sparked significant interest among investors aiming for potential gains in the crypto market. According to technical analysis, the projected movement suggests two critical targets for SHIB. The first target, referred to as the Neckline is set at $0.00003287, representing a potential 103% profit from the buy zone. Beyond that, the second target reaches $0.00005339, offering an impressive 230% gain for those holding through the projected rally. Investors should note the buy zone identified in the chart, marking an optimal entry point before the anticipated bullish breakout. Source- TradingView Shiba Inu price whales have accumulated 1.63 trillion SHIB after a 10% price crash, fueling speculation of a potential price rebound. The current technical setup suggests strong bullish potential, with SHIB targeting gains of up to 230% if the pattern holds. Investors are closely monitoring the price action for opportunities amid ongoing market volatility. The post Shiba Inu Whales Accumulate 1.63 Trillion As SHIB Crashes 10%, Will Price Bounce? appeared first on CoinGape .

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