This 60% Drop on Shiba Inu (SHIB) Is Extremelly Bullish, Here’s Why
The post This 60% Drop on Shiba Inu (SHIB) Is Extremelly Bullish, Here’s Why appeared on BitcoinEthereumNews.com.
Shiba Inu is displaying signs of resilience despite having experienced a 60% decline from local highs, and the behavior of large holders indicates they do not yet have plans to abandon ship. A complex but cautiously optimistic picture is presented by the most recent price charts and on-chain data. From the perspective of market structure, SHIB is presently trading just above $0.0000134, with the 200-day MA still above it and resistance at the 100-day MA. The asset has successfully recovered from its April lows and is currently testing important technical zones even though the price is still in a wider downward trend. With an RSI of 56, the market is neither overbought nor oversold, only consolidating and possibly building energy. Because of on-chain whale activity, this drop is more bullish than it appears. Inflows from large holders have increased 24.14% over the past 90 days, with a recent 8.78% spike in the last week alone, according to IntoTheBlock. This indicates accumulation rather than departure. SHIB/USDT Chart by TradingView Conversely, outflows have fallen by 62.6% in the last month and by almost 48% in the last week, suggesting that whales are remaining in place and perhaps shifting their positions instead of selling. Data on address distribution supports this. The SHIB wallets that hold between $100,000 and $10 million have increased by +16.2% and +6.45%, respectively. This group tends to accumulate in anticipation of longer-term gains; they are not tourists. You Might Also Like A redistribution of tokens toward either higher-tier or long-term holders is suggested by the slight decline in addresses, with 100 million to 1 billion SHIB, which reflect the change in holder behavior. This frequently signals the start of a stabilization phase and the conclusion of speculative turbulence. In summary, the price decline of SHIB does not fully explain…
Filed under: News - @ April 30, 2025 11:28 am