Shiba Inu Price Sets Eyes on Recovery Thanks To Whales
- Shiba Inu whales accumulate $60 million worth of SHIB in a day, signaling bullish prospects amid weakening bearish momentum.
- The ADX at 25.0 suggests a fading bearish trend; a further dip could open doors for recovery if buying support increases.
- SHIB must breach $0.00002341 resistance for a 50% recovery, with $0.00002093 acting as critical support to avoid further losses.
Shiba Inu has struggled to regain bullish momentum, with its price chart reflecting limited recovery efforts. The meme coin remains unable to recover recent losses, keeping it well below its previous highs.
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
Shiba Inu whales appear to be capitalizing on short-term bullish prospects. In a notable transaction, addresses holding at least 0.1% of SHIB’s supply purchased 2.79 trillion SHIB worth over $60 million within 24 hours. Such significant accumulation reflects renewed interest from large holders in anticipation of a potential price increase.
This trend isn’t isolated; similar large-scale purchases have been observed throughout the month. These moves suggest that major players are preparing for a future breakout, strengthening SHIB’s position in the market. Whale activity often signals confidence in an asset’s upward trajectory.
Shiba Inu’s macro momentum suggests a potential shift in its trend. The Average Directional Index (ADX), currently at the 25.0 threshold, indicates that the ongoing bearish trend is losing strength. A dip below this level would signal that the bearish pressure is coming to an end, creating room for a recovery in SHIB’s price.
This weakening bearish momentum aligns with increased whale activity, hinting at improved investor sentiment around Shiba Inu. If the ADX drops further, it could act as a catalyst for upward movement, provided that SHIB gains sufficient buying support from retail and institutional investors alike.
SHIB Price Prediction: Breakout Likely
Shiba Inu’s price remains below the resistance at $0.00002341, preventing it from recovering recent losses and progressing toward $0.00003306. This key level continues to suppress upward momentum, delaying any significant rebound in the short term.
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.
The short-term target is for the meme coin to recover its recent losses and breach $0.00003306, which stands 50% above the current price. This is possible only when $0.00002976 is also flipped into a support level over the coming weeks.
However, failing to breach the $0.00002341 resistance could leave SHIB consolidated above $0.00002093. A further decline below this level would invalidate the bullish thesis, highlighting the importance of key support and resistance levels for its recovery.
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