Shiba Inu Price Prediction: Whales Are Rapidly Buying

Shiba Inu (SHIB) has been gaining attention lately as large investors, known as "whales," are buying up big amounts of the cryptocurrency. This increase in whale activity could be a sign of something bigger coming for SHIB. As more people watch these moves, the market could react, potentially pushing Shiba Inu's price higher. In this article, we'll explore what this whale accumulation means for SHIB’s future and how it could impact its price.

Shiba Inu Price: From Record Highs to Market Momentum

SHIB/USD Daily chart- TradingView

Shiba Inu is currently priced at $0.00001778 , with a 24-hour trading volume of $334.91 million, a market cap of $10.48 billion, and a market dominance of 0.45%. In the past 24 hours, SHIB's price has dropped by 4.38%.

Shiba Inu hit its peak price on October 28, 2021, reaching an all-time high of $0.00008819. Its lowest price was recorded on November 28, 2020, at $0.0000000005637. Since its all-time high (ATH), the lowest price it reached was $0.00005821 (cycle low), and the highest price since then was $0.00004501 (cycle high). Currently, the market sentiment for SHIB is bullish, with the Fear Greed Index showing 71, indicating "Greed."

Shiba Inu has a circulating supply of 589.27 trillion SHIB, with a maximum supply of 589.74 trillion SHIB. The yearly supply inflation rate is -0.01%, meaning 79.56 billion SHIB were removed from circulation in the past year.

Whale Activity Signals Potential SHIB Price Breakout

Shiba Inu (SHIB) On-Chain Analytics: Source: intotheblock

Shiba Inu's recent developments suggest a potential for price breakout, fueled by a mix of bullish signals. The 14,575% burn rate, which has removed 279 million SHIB from circulation, is significant in reducing supply. 

This supply reduction, combined with the trend of SHIB being moved off exchanges and into private wallets, indicates that major holders, or whales, are accumulating and tightening the available supply for trading. As the supply on exchanges decreases, there is less SHIB available for retail investors to buy, which could push prices up if demand increases.

The consolidation phase, where SHIB is trading between $0.000016 and $0.000018 , reflects a moment of market indecision. However, the narrowing Bollinger Bands suggest that this phase could soon end, potentially triggering a breakout. 

Whale accumulation, as shown by the increase in large holders’ SHIB inflows by 15% in the past week, further signals that major investors expect future price gains. This buying activity from whales typically precedes market rallies, as it creates scarcity and boosts market confidence.

Predictively, if this whale-driven demand continues and more retail investors follow suit, SHIB could break through its $0.000018 resistance. Once this barrier is crossed, SHIB could experience significant upward momentum. 

However, this outcome will largely depend on sustained buying pressure and whether retail investors join in on the buying spree. With the current market sentiment leaning bullish, SHIB has the potential for a strong breakout in the near term.

Shiba Inu Price: Potential for Significant Gains

Shiba Inu's (SHIB) price has shown significant growth over the past year, with a remarkable 159% increase. This growth has outperformed 65% of the top 100 crypto assets, and even exceeded the performance of heavyweights like Bitcoin and Ethereum. SHIB’s strong liquidity, driven by its market cap, and its current trading position above the 200-day simple moving average (SMA) are indicators of positive momentum. The asset has also seen 16 green days out of the last 30, which equates to 53% of days in recent trading, further signaling consistent upward movement and investor confidence.

However, SHIB is still down 80% from its all-time high, which leaves considerable room for potential recovery. The combination of its current price trends, consolidation phase, and growing whale activity suggest that SHIB could break through its current resistance at $0.000018. Should SHIB break out of this range, a move towards its previous highs becomes more plausible. The narrowing Bollinger Bands indicate that a breakout could happen soon, which, along with whale accumulation, would likely attract more retail investors, driving the price higher.

Looking forward, if market conditions remain favorable, SHIB could continue its upward trend. While breaking its all-time high of $0.00008819 may take time, a more immediate target would be the next resistance level of around $0.000045, which represents a significant jump from current levels. The negative yearly inflation rate of -0.01%, reducing the overall supply, combined with increased demand from large holders, sets up SHIB for continued price appreciation.

In conclusion, the key factors, such as strong liquidity, bullish sentiment, and whale accumulation, suggest that SHIB could see a strong rally. If market momentum continues, SHIB may aim for a price between $0.000045 and $0.00008819 in the longer term, depending on whether sustained demand supports the breakout. However, investors should watch for market corrections or external factors that could influence broader market movements.