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Shiba Inu (SHIB) has recently been in the spotlight following its price fluctuations and considerable market dynamics. With the 5 trillion drop evident in the recent charts, many investors might be getting nervous. However, a deeper analysis of the trends and patterns paints a more optimistic picture, especially regarding the activities of so-called "whale" investors.
A SHIB/USDT price chart shows SHIB experiencing increased volatility over the past months. However, an interesting pattern emerges — every significant dip seems to be followed by a period of recovery. This "zig-zag" pattern indicates a series of healthy corrections, a natural part of any cryptocurrency's journey, showing the resilience of SHIB in bouncing back.
More telling are the charts detailing the activity of SHIB whales. Their trades can considerably impact the price of the currency.
Tomiwabold OlajideIn the recent period, there is a visible decrease in the number of large transactions and the overall volume. This is where it gets intriguing. Typically, a decrease in whale activity, especially during periods of price decline or stagnation, indicates that these big players are holding onto their assets, anticipating a future rise. If whales believed the coin's value would plummet further, they would likely be offloading their holdings, causing a surge in large transaction volumes.
Moreover, the price is currently battling a local resistance level. The combined effect of decreased whale activity and the resistance battle could suggest that once SHIB breaks through this resistance, there is potential for a bullish uptrend, furthered by the support of whales who held onto their assets during the storm.
Yuri Molchan
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin