Shiba Inu Token Poised for Bullish Rebound: Key Insights
Shiba inu coin stabilizes at a critical support level, signaling potential growth as major investors ramp up buying.
the price of Shiba Inu (SHIB) hovers around $0.00001225,marking a significant drop from its July peak. Yet, there’s optimism as whales and informed traders increase their holdings.
- Data reveals whales now possess nearly 12.12 billion SHIB coins, up from 11.8 billion in August.
- Smart money investments have surged 86%, totaling 11.7 billion coins in the past month.
Whales are substantial crypto holders, whereas smart money refers to skilled traders. The soaring interest hints at a looming recovery for SHIB.
Furthermore, SHIB supply on exchanges has shrunk to 282.7 trillion from August’s peak of 289 trillion. This decline suggests reduced selling pressures and builds anticipation for a price rebound.
technical analysis on the daily chart highlights the current price aligning closely with a pivotal trend line.This alignment could ward off further downward pressure, paving the way for a possible jump to fresh heights near $0.00001600—a 32% increase from today’s trading range.
