The price of Shiba Inu has dropped by 12.5% in the last 24 hours, erasing a large part of the recent gains made earlier in the week.
The decline occurred in the wider market trends, but whale investors actively accumulate SHIB at these lower levels, aimed at capitalizing on the decline and potentially bringing the price.
Shiba Inu Baleines at the rescue?
The Netflow of the big holders for Shiba Inu has recently increased, reaching a two -month top. During the last 24 hours, 4.66 sombings have been accumulated by addresses containing at least 0.1% of food in circulation. These whales, which have collectively invested $ 63.7 million, bet on a price rebound.
The activity of the whales is crucial for Shiba Inu, because these major holders can have a significant impact on the price movement. With such a substantial accumulation occurring during the recent drop in prices, it is clear that whales are ready to support Shib at these levels. This could create an upward momentum if the purchase continues, forcing the downward trend that has affected Shib in recent days.
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Looking at the macro dynamic of Shiba Inu, the number of addresses active by profitability reveals a worrying trend. Currently, around 27% of active shib addresses are in profit. This is a critical level because, historically, once the proportion of profitable addresses crosses 25%, their decisions are more likely to have an impact on price action.
If these investors decide to make a profit, the sales pressure could reduce the price of Shiba Inu.
The growing percentage of profitable addresses indicates that many holders could soon withdraw, especially after the recent price increase. This presents a potential risk for Shiba Inu, because such behavior could trigger a new price drop.
SHIB BOUNCE PRICE
The price of Shiba Inu is currently negotiated at $ 0.00001353, down 12.5% in the last 24 hours. Altcoin is above the support level of $ 0.00001317. If the continuous whales accumulation efforts succeed, Shib can bounce back from this level of support, aimed at increasing to $ 0.00001435.
A successful rebound on $ 0.00001317 would probably open the way to an additional price appreciation, which could push Shiba Inu at $ 0.00001553. Securing this level as a support could mark a resumption of losses today and initiate a new upward trend, provided that the larger conditions of the market remain favorable.
On the other hand, if Shiba Inu falls below the support of $ 0.00001317 due to the profit taking, the meter part could drop to $ 0.00001188. This would invalidate the bullish thesis and further reduce the confidence of investors. The next few days will be crucial to determine if Shib can maintain its current support levels.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
