Shiba Inu Price Sets Eyes on Recovery Thanks To Whales

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As a seasoned crypto investor with a knack for spotting trends and analyzing market signals, I find myself intrigued by Shiba Inu‘s current predicament. The coin has been treading water for quite some time, unable to fully recover from its recent setbacks. Yet, the optimist in me can’t help but notice the bullish signs that are slowly starting to emerge.

Shiba Inu is finding it challenging to rebuild its upward trend, as indicated by its price chart showing minimal attempts at recovery. Despite this, the meme coin continues to fail in recouping its recent losses, maintaining itself significantly below its past peak prices.

An analyst, however, suggests that 2025 could bring significant growth, potentially enabling SHIB to inch closer to a new all-time high (ATH).  

Shiba Inu Whales Are Bullish

It seems that large Shiba Inu investors are taking advantage of temporary bullish predictions, as evident in a substantial transaction where owners with at least 0.1% of SHIB’s total supply bought roughly 2.79 trillion SHIB, worth over $60 million within just 24 hours. This massive accumulation suggests growing enthusiasm among major investors, who are likely expecting an increase in the coin’s price.

This pattern isn’t unique; significant buying sprees like these have been noticed consistently throughout the past month. These actions hint that key players might be gearing up for a future surge, thereby bolstering SHIB’s standing in the market. Large transactions by whales typically indicate faith in an asset’s potential rise.

Looking at Shiba Inu’s long-term movement, there could be a change in its direction. The Average Directional Index (ADX), now at 25.0, shows that the current downward trend is weakening. If it drops below this level, it might mean that the bearish influence is diminishing, paving the way for an increase in Shiba Inu’s price.

As a crypto investor, I’ve noticed a softening bearish trend coinciding with heightened whale activity in Shiba Inu, which suggests a more optimistic outlook among investors. If the Average Directional Index (ADX) continues to decline, it could potentially serve as a trigger for price surges, but only if Shiba Inu manages to secure robust buying interest from both retail and institutional investors.

SHIB Price Prediction: Breakout Likely

Despite Shiba Inu’s price currently being under the barrier at 0.00002341 USD, it is unable to recoup recent losses and advance towards the target of 0.00003306 USD. This critical point is restraining any significant growth, postponing a major uptick in the near future.

Despite this, the bullish factors mentioned above suggest SHIB could breach the resistance around $0.00002606. With ongoing whale activity and bullish market sentiment, Shiba Inu may overcome these hurdles, potentially driving the price higher. 

To reach $0.00003306 again (a 50% increase from our current value), the meme coin needs to regain its recent losses and establish $0.00002976 as a new support level in the upcoming weeks. This could potentially lead to price recovery.

If SHIB doesn’t manage to break through the $0.00002341 barrier, it might continue to hover above $0.00002093 instead. A drop below this level would challenge the bullish outlook, underscoring the significance of crucial support and resistance levels in its potential recovery.

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2024-12-27 18:10