SHIB Overcomes Pressures, Smart Money Bets Big
Shiba Inu (SHIB) coin now rests at a vital support level, sparking interest among big investors.
Amid market fluctuations, SHIB is trading at $0.00001225, showing a dip from its July high. Yet, there’s hope on the horizon as whales and strategic investors start buying more.
Analysts believe a bullish trend might emerge, provided certain risks are addressed. These include decreasing burn rates and dwindling activity on the Shibarium network.
- Whale investors recently increased their SHIB stake to 12.12 billion coins.
- Smart money holders pushed their holdings up by 86%,reaching 11.70 billion coins.
These investors are known for making successful moves in the crypto world. The growing demand also shows a decline in SHIB availability on exchanges. Current supply stands at 282.7 trillion coins, down from an August peak.
This drop indicates fewer investors are selling, signaling confidence in the coin’s potential rebound.
Price charts reveal SHIB hovering near a supportive trendline established in April 2023. Wiht bears hesitant to push prices further down, experts predict a strong comeback. They foresee SHIB retesting a key resistance at $0.00001600, marking a potential 32% rise from today’s price.
