Amidst the current downtrend in the market, Shiba Inu (SHIB) has been grabbing the attention of whales and long-term holders, making it one of the most talked-about meme coins in the crypto space.
Whales have been closely watching SHIB, with data from IntoTheBlock showing a massive 2,025% increase in large holder inflows. This surge indicates a possible bottom for SHIB, as whales typically buy in large quantities during market corrections. Moreover, the significant rise in large-holder inflows suggests potential buying opportunities, as SHIB outflows from exchanges have been notable, signifying a movement of assets to cold wallets.
Despite the overall bearish sentiment in the market, SHIB has managed to gain 2.50% in the last 24 hours, trading around $0.00001288. However, the trading volume has decreased by 22%, possibly due to high volatility causing confusion among traders and investors.
In terms of technical analysis, SHIB has recently broken out of a descending trendline that has been a strong resistance since mid-January 2025. The meme coin is currently hovering around a crucial support level of $0.000012, suggesting a shift in sentiment from bearish to bullish.
If SHIB manages to close above the $0.0000132 level, there is a strong possibility of a 50% surge towards $0.0000203 in the near future. Currently, SHIB is trading below the 200 Exponential Moving Average (EMA) on both daily and four-hour time frames, indicating a downtrend in both short and long time frames.
Overall, with increased whale activity and positive technical indicators, SHIB seems poised for a potential rally in the coming days. Traders and investors are advised to keep a close eye on key support and resistance levels to capitalize on potential buying opportunities in the volatile market.