Shiba Inu (SHIB) Whales Accumulate Tokens Amid Price Crash, Sparking Speculation of Future Rebound

Shiba Inu (SHIB) experienced a sharp price decline on January 7, 2025, with its value dropping by over 10% in the past 24 hours.

Shiba Inu (SHIB) price took a sharp downturn on January 7, 2025, with its value dropping by over 10% in the past 24 hours. This decline comes as part of a broader crypto market correction, wiping out recent bullish gains and breaking through crucial support levels. At the time of writing, SHIB price trades around $0.000021, leaving investors on edge as they await potential signs of a price rebound.

However, as SHIB price dipped, large investors, often referred to as “whales,” took advantage of the lower prices, acquiring a staggering 1.63 trillion SHIB tokens. This massive transfer, valued at $39 million, was reported by Whale Alert as moving from Crypto.com to an unidentified wallet. The whale accumulation has sparked curiosity, especially regarding their strategy and the possible impact on Shiba Inu’s future price trajectory.

Wholes Accumulate SHIB Tokens Amid Price Crash

The notable inflow of 1.63 trillion SHIB tokens comes after a broader market correction, which left many cryptocurrencies struggling. SHIB’s price drop signals ongoing volatility in the market, and many traders are closely watching the movements of these large holders for clues about the next potential market shift. While the price has dipped by 10%, the significant whale buy could suggest that these large holders are positioning themselves for a future rebound.

This whale activity also comes at a time when Bitcoin (BTC) price faced a notable drop, breaking below the $96k mark. The broader downturn in crypto markets, including liquidations that affected various tokens, made many investors cautious. However, the whale accumulation of SHIB could signal confidence in the asset despite the short-term price volatility.

Technical Analysis: Cup and Handle Pattern Signals Bullish Potential

Shiba Inu’s price chart is showing signs of a potential breakout, despite the recent decline. The chart reveals the formation of a classic “cup and handle” pattern, which is often seen as a bullish signal in technical analysis. The cup portion of the pattern represents a period of accumulation, while the handle indicates a smaller consolidation phase before a potential breakout. This technical formation has traders excited, with the potential for SHIB to break out to significant price levels in the coming months.

Should the breakout occur, Shiba Inu could see its price target rise to $0.00003287, representing an upside of 62.53% from its current levels. A further price movement could push SHIB to as high as $0.00005339, offering an impressive 230% gain for investors who capitalize on the trend early.

Strategic Entry Points and Price Targets for SHIB in January 2025

For investors looking to capitalize on SHIB’s potential rally, the technical analysis suggests key price targets. The first critical target is the neckline resistance at $0.00003287, marking a potential 103% gain from the current price. Beyond that, the second price target is $0.00005339, offering a remarkable 230% return for those who hold through the expected price surge.

The ideal buying zone lies between $0.0000161 and $0.0000193, offering an optimal entry point for those looking to position themselves before the anticipated bullish breakout. As SHIB currently consolidates around $0.00002151, just above this buy zone, it suggests that accumulation is taking place before the next potential leg up.