Whales Buy the Dip
Shiba Inu (SHIB) has taken a hit this week, dropping over 15% to a low of $0.00002584. However, this dip has attracted the attention of “whales,” large investors who are buying SHIB at a discount.
New Whales Accumulate Billions
According to on-chain data, three new whale accounts have purchased a combined 184 billion SHIB, worth around $4.9 million. These whales acquired their SHIB from Coinbase and Binance.
Whale Sentiment Shifts
Shiba Inu has seen a steady increase in whale wallets holding its tokens. The recent accumulation suggests that some whales believe the current dip is temporary and that the price will rebound.
Can Whales Push SHIB to $0.00008?
Whales can significantly influence the price of cryptocurrencies. Currently, SHIB whales are leaning slightly towards bearish sentiment. However, the recent buying activity by new whales indicates that some are optimistic about the future.
Technical Analysis
Crypto analyst Captain Faibik has identified a technical pattern that suggests SHIB could surge to between $0.00058 and $0.00062 in April. If bullish momentum returns, SHIB could potentially reach $0.00008 or higher.
