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Shiba Inu Whale Surge: $114 Million Accumulation Signals Strong Buy Pressure
- Shiba Inu whales accumulated over 10.4 trillion tokens in one day, marking the second-largest daily purchase this year.
- Large holders increased their total SHIB by 27.81 trillion since May 24 despite recent volatility.
- Exchange reserves and funding rates suggest a strong base for a potential move toward $0.00001730.
- The crypto market faced a weekend of intense volatility but recovered on Monday, with SHIB gaining 9.18%.
- Whales purchased 10.4 trillion SHIB valued at about $114 million in 24 hours, boosting their total holdings significantly.
- SHIB's current price is $0.00001168, showing an 8% increase in the last 24 hours.
- A descending channel formation on the daily chart suggests the potential for price reversals with upside targets of $0.00001250 and beyond.
- Diverging whale behavior with different SHIB holdings indicates mixed sentiments among investors.
- The rise in exchange reserves to $929 million on June 22-23 indicates increased liquidity and confidence among SHIB holders.
- Trade volume fell, but open interest rose, signaling growing market participation amidst slowing trades.
- Binance, OKX, Coinbase, and Bybit witnessed significant inflows and rising long ratios, indicating renewed investor interest.
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