Shiba Inu (SHIB) Whale Transactions Surge Amid Bearish Market, Analysts Forecast Rebound with Potential Price Targets

Shiba Inu (SHIB) price has displayed a downward trend in recent weeks. However, SHIB's whale activity has seen a significant boost.

Key Takeaways:

Shiba Inu (SHIB) price continues to experience a downward trend, with a 65% decrease from its December 2024 peak.

Despite the bearish market, SHIB whale activity experienced a significant boost, with over $26.66 million in large token transactions within 24 hours.

This increase in whale transactions is highlighted by a volume surge of 20.69% and large SHIB token transactions.

According to IntoTheBlock data, there were 80 whale transactions exceeding $26.66 million in the last 24 hours.

These large transactions, compared to the recent period of dormancy with 42 to 185 transactions per week, showcase a strategic shift.

As SHIB price continues to face bearish pressure, increased whale-dealing activity might indicate potential market conditions for shifting.

Shiba Inu (SHIB) price experienced a downward trend in recent weeks, with a 65% reduction from its December 2024 peak. However, SHIB whale activity saw a significant boost, highlighting potential signs of an upcoming price increase.

Shiba Inu Price Might Benefit from Whale Transactions

As reported by IntoTheBlock data, SHIB experienced 80 whale transactions exceeding $26.66 million during the last 24 hours. This activity is a substantial increase compared to the recent period of dormancy, with 42 to 185 transactions per week.

The increasing frequency and volume of whale transactions, especially those exceeding $100,000, indicate a substantial change in market sentiment. When whales, or large holders, engage in such activity, it can be a precursor to price movements in either direction.

In this case, Shiba Inu may benefit from the rising participation of whale investors who seek profit opportunities in rising prices. Despite the SHIB price’s downward movement, these recent substantial transactions from large investors might establish conditions for future price growth.

Shiba Inu Price Might Recover, Analysts Forecast with Potential Targets

Shiba Inu price movements draw intense scrutiny from market analysts, especially as they try to identify signs that could indicate a potential recovery in SHIB price despite its ongoing decline.

According to data from Rose Premium Signals, the Shiba Inu experienced multiple weeks of support being tested between $0.000015 and $0.000011 before potentially finding its price base. If this support holds, the analyst suggests that SHIB could see a breakout.

The price targets are set at $0.00002913, $0.00003612, and even $0.00004401. Another analyst, Ali Martinez, also observed a potential upward movement in Shiba Inu price.

Martinez suggested this by observing a buy signal on the token’s weekly chart. This signal was observed using the TD Sequential technical indicator, which tracks price trends using candlestick data.

If this buy signal is confirmed, it could indicate an upcoming increase in SHIB price. However, it is important to note that the TD Sequential method has provided mixed results in the past.

Traders frequently use this indicator to predict potential trend reversals, especially in cryptocurrency markets. In this case, if the buy signal proves accurate, we might see an increase in SHIB price soon.