Amid the ongoing bearish market sentiment, Shiba Inu (SHIB), the popular and world’s second-largest meme coin, is gaining immense attention from whales and long-term holders.
Whale Eyes on SHIB
Data from the on-chain analytics firm IntoTheBlock revealed that SHIB has witnessed a significant 2,025% surge in large holder inflows, indicating heightened interest in the meme coin.
This suggests a potential bottom for SHIB, as whales tend to buy in large quantities during significant market corrections. Additionally, this significant jump in large-holder inflows further suggests potential buying opportunities, as exchanges have recently witnessed notable SHIB outflows, indicating that assets are moving from exchanges to cold wallets.
Current Price Momentum
With this massive participation and bullish activity, SHIB has registered an impressive gain of 2.50% in the past 24 hours and is currently trading near $0.00001288. However, during the same period, its trading volume dropped by 22%, indicating lower participation from traders and retail investors compared to the previous day.
This drop in trading volume appears to be due to high volatility, which seems to be causing confusion among traders and investors.
Shiba Inu (SHIB) Technical Analysis and Upcoming Levels
According to expert technical analysis, SHIB’s recent price surge suggests a breakout from a descending trendline that has acted as strong resistance since mid-January 2025. Additionally, the meme coin is currently near a crucial support level of $0.000012. With this recent breakout, the overall sentiment for SHIB appears to be shifting from broader bearishness to bullishness.
Based on recent price action and historical momentum, if SHIB surges and closes a daily or four-hour candle above the $0.0000132 level, there is a strong possibility it could rise by 50% to reach $0.0000203 in the coming days.
As of now, the meme coin is trading below the 200 Exponential Moving Average (EMA) on both the daily and four-hour time frames, indicating that SHIB is in a downtrend on both longer and shorter time frames.
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