- Shiba Inu whales have accumulated 1.93 trillion SHIB tokens in just 24 hours, signaling strong buying interest amid a 20% monthly price drop.
- This surge in whale activity and negative exchange netflows suggests SHIB may be poised for a potential rebound toward the $0.000013 resistance level.
SHIB Dips 20%, But Whales Dive In
Shiba Inu (SHIB) has experienced a rough month, shedding over 20% in value after hitting a local high of $0.00001764. However, the tide may be turning as whales make a strong comeback, seizing the opportunity to buy the dip. According to data from IntoTheBlock, major holders have scooped up 1.93 trillion SHIB tokens in just the past 24 hours—a massive reversal from two days prior when whale inflows hit a monthly low.
Whale Accumulation Signals Renewed Optimism
This aggressive buying spree marks a significant shift in sentiment. The whale netflow surged to 1.92 trillion tokens, indicating a minimal sell-off of just 8 billion. This is a powerful bullish signal, showing that whales are overwhelmingly adding to their positions rather than offloading.
This surge isn’t isolated to large holders—SHIB’s exchange netflow turned negative by $2.7 million, suggesting a market-wide accumulation trend. When outflows from exchanges exceed inflows, it often points to holders storing tokens in private wallets with long-term intentions.
Also read: Ethereum ETF Inflows Hit $125M: Is a $10K ETH Price Breakout on the Horizon?
What’s Next for SHIB?
The influx of whale capital appears to have already sparked a 1.03% daily price increase, pushing SHIB to $0.00001259. While modest, this bounce could be the first sign of a broader recovery, especially if accumulation continues. If momentum holds, SHIB may soon challenge the $0.000013 resistance level, potentially triggering a more significant upswing.
The key factor? Whether other traders follow the whales’ lead. Increased buying pressure from the broader market could create the upward catalyst SHIB needs to escape its recent downtrend.
