Shiba Inu Whales Snap Up 10T SHIB, Prices Chalk Out Descending Triangle Pattern
The post Shiba Inu Whales Snap Up 10T SHIB, Prices Chalk Out Descending Triangle Pattern appeared on BitcoinEthereumNews.com.
Shiba inu (SHIB) whales went bargain hunting early this week after prices dropped to a 16-month low of $0.00001005. According to CoinDesk’s AI research, whales purchased 10.4 trillion SHIB tokens, worth over $110 million, on Monday, marking the largest daily accumulation in five months. The whale action has likely contributed to the cryptocurrency’s 17% price bounce from the 16-month low reached Sunday. Note that the broader crypto market has stabilized following the initial knee-jerk reaction to the tensions in the Middle East. BTC, which fell below $100K over the weekend, last changed hands near $106,000. Market data indicate that SHIB is maintaining a generally constructive posture, with higher lows forming a subtle uptrend channel. The token found significant volume support at the $0.00001158 level during the 24 hours from June 24, 09:00 to June 25, 08:00, with trading volume surging to 439 billion, well above the daily average. This accumulation at support levels suggests the potential for continued upside momentum if the $0.00001175 resistance can be decisively cleared. As of writing, SHIB traded at around $0.00001162 on major exchanges, according to CoinDesk data. Key AI insights Higher lows formed a subtle uptrend channel, suggesting accumulation at support levels and potential for continued upside momentum if $0.00001175 resistance is cleared. During the 60 minutes from 25 June 07:06 to 08:05, SHIB climbed from $0.00001169 to $0.00001171, representing a 0.2% gain. A significant price surge occurred between 07:25-07:27, with volume peaking at 12.36 billion SHIB as prices reached the session high of $0.00001175. Price action formed an ascending channel with higher lows, though a sharp correction at 08:03 tested the $0.00001171 support level, suggesting consolidation after the earlier rally. Hourly chart SHIB’s recovery has stalled since Tuesday, with prices trading in what appears to be a descending triangle, characterized by a falling…
Filed under: News - @ June 25, 2025 1:24 pm