The number of SHIB whales surged by 2.025% - Is it time to buy?

In the context of the prevailing pessimistic market sentiment, Shiba Inu (SHIB), the popular and second largest memecoin in the world, is attracting significant attention from whales and long-term holders.

Whales are keeping an eye on SHIB

Data from the analysis company IntoTheBlock shows that SHIB has seen a 2,025% increase in the cash flow of large holders, indicating a growing interest in this memecoin.

Source: IntoTheBlockThis indicates a potential bottom for SHIB, as whales tend to buy in large quantities during strong market corrections. Additionally, the increase in cash flow from large holders further indicates potential buying opportunities, as many exchanges have recently seen significant outflows of SHIB, suggesting that the asset is being moved from exchanges to cold wallets.

Current price motivation

With strong participation and bullish signals, SHIB has recorded an impressive increase of over 3% in the past 24 hours and is currently trading around $0.00001292. However, during the same period, the trading volume of this memecoin has decreased by 22%, indicating lower participation from traders and retail investors compared to the previous day.

The decline in trading volume seems to be due to high volatility, which is causing confusion among traders and investors.

Technical Analysis

According to the technical analysis of experts, the recent price increase of SHIB indicates a breakout from the downtrend line, which has acted as a strong resistance level since mid-January 2025. Additionally, the memecoin is currently near an important support level of $0.000012. With the recent breakout, the overall sentiment towards SHIB seems to be shifting from pessimistic to optimistic.

Source: TradingViewBased on recent price movements and past momentum, if SHIB surges and closes a daily candle or a 4-hour candle above $0.0000132, there is a strong possibility that SHIB could increase by 50% towards $0.0000203 in the coming days.

As of now, the memecoin is trading below the (EMA) 200 Exponential Moving Average on both the daily and 4-hour time frames, indicating that SHIB is in a downtrend on both the long-term and short-term time frames.

You can check the SHIB price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do thorough research before making decisions. We are not responsible for your investment decisions.

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Viet Cuong

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