Shiba Inu Whales Accumulate 10.4 Trillion Tokens Amid Price Recovery Signs
Signs of recovery are visible in the SHIB market, with whale accumulation and an "inside week" candle indicating potential price growth.
Key facts include:
- SHIB's price fell nearly 27% to $0.00001160 since mid-May, reaching a low of $0.00001005.
- Whales acquired 10.4 trillion SHIB tokens, valued at about $110 million.
- Prices increased by 11% over seven days leading to June 29, forming an "insider week" candle.
- This candlestick pattern suggests indecision and might indicate seller exhaustion, pointing to a possible upward shift.
Additional details:
- SHIB saw a 4.3% price change from $0.00001147 to $0.00001198 in 24 hours ending June 30.
- Significant trading occurred from 21:00-22:00 on June 29, breaking out on 5.8x above-average volume.
- Resistance was established at $0.00001198, with support at $0.00001160 after profit-taking.
- The closing price on June 30 was $0.00001164, a 1.4% gain from the opening.
- In the last hour before closing, SHIB dropped 0.3% from $0.00001167 to $0.00001164.
- Volume spikes over 8 million USDT were noted during key reversal moments, indicating institutional interest.