According to Onchain data, SHIB whales may be mobilizing again and preparing for a possible rally.
SHIB whale activities increased by over 7,000 percent in the last 7 days, memecoinIt increased confidence in . SHIBIts price decreased by 0.6 percent in the last 24 hours and reached $0.00001880. The price is currently following a horizontal trend. However, the intense accumulation of SHIB by whales may signal a rally.
Whale Accumulation with 7,000% Increase Signals Shiba Inu Rise
Over the past week, SHIB whales have made large purchases. According to IntoTheBlock (ITB) data, whales increased their SHIB holdings by 7,469 percent in the last 7 days. The development in question shows that large investors’ interest in memecoin has increased.
Famous crypto analyst Javon Marks maintains his previous prediction that SHIB price will rise to $0.000081. According to Marks, SHIB’s Relative Strength Index (RSI) points to a falling wedge bull formation on the daily chart. If the analyst’s prediction turns out to be correct, this would mean a 4-fold increase from the current price.
The Shiba Inu chart shows the popular altcoin breaking out of a symmetrical triangle formation. This triangle is moving between the $0.00002050 resistance and $0.00001260 support levels. The price is currently trading above the upper trend resistance of the triangle. The parity needs to gain more volume in order to exceed the $0.00002050 level.
If the resistance level is broken, the price is expected to first increase by 45 percent to $0.00002, then by 68 percent to $0.000032, and finally reach the target of $0.000081.
