The Movement of Trillions of $SHIB Coins: Whale Buying That Gives a Bullish Signal? – Bittime

Bittime - The movement of trillions of $SHIB coins is attracting attention after large purchases by whales. Is this a bullish signal for Shiba Inu (SHIB)? Find the complete analysis!

Phe large movements by whales holding large coins) are often important indicators for anticipating changes in market direction. Recently, Shiba Inu (SHIB) recorded a big movement that attracted the attention of market observers.

As many as recorded 3.3 Trillion Coin SHIB (around Rp. 52.8 trillion) was moved from crypto exchanges, an action that sparked speculation as to whether this was a sign of existence or a bullish signal for the future of SHIB price.

A report from Coinglass, a crypto analytics platform, revealed that despite the general decline in crypto prices, whales' interest and trust in SHIB remains high. This phenomenon raises the question: Is this the start of an upward trend in SHIB prices in the near future? This is the analysis.

3.3 Trillion SHIB Coins Flow Out of Exchanges

Source: Coinpedia

According to the latest data, it happens withdrawal of 3.3 trillion SHIB from crypto exchanges, which is worth more than $93.3 million (around IDR 1.49 trillion). This large withdrawal indicates increased interest from whales who are switching to storing their coins in private wallets, instead of selling them on the open market.

In crypto market terms, this phenomenon is called outflow, indicating a reduction in the supply of coins available for sale.

Increased outflow is often interpreted as bullish signal. Because, this is related to reducing selling pressure which can reduce prices.

When more coins are withdrawn from exchanges, there is a greater chance that the price will be pushed up due to fewer coins being available on the market. This is a signal that the whale sees potential price increase in the short term and take advantage of the opportunity to accumulate more coins.

SHIB Technical Analysis: Will It Be Bullish?

Source: Coinpedia

From the side technical analysis, the data shows that SHIB is experiencing positive momentum. Although the current price of this coin is around $0,00002778 (around Rp. 0.45), which recorded a decline of more than 4.9% in the last 24 hours, there are strong signs that SHIB is testing an important support level.

In the world of digital asset trading, level support is the price at which many investors tend to buy, preventing the price from falling further.

According to the analysis of experts, SHIB is struggling to maintain its position above the support level $0,000025 (around Rp. 0.4). Historically, whenever SHIB is around this level, the price tends to experience significant increases.

If this coin manages to stay above that level, there is a big possibility SHIB may surge up to 40%, reached the level $0,000039 (around Rp. 0.62) in the near future.

Indicator RSI SHIB

One of the important indicators that need to be observed in analyzing asset price movements is Relative Strength Index (RSI). RSI is an indicator that shows whether an asset has entered a zone overbought (too bought) or oversold (oversold).

Currently, SHIB's RSI is around 52, which means it has not yet entered the overbought zone (above 70). This shows that SHIB still has room to rise before reaching saturation point.

Although SHIB price corrected slightly in the last few days, this does not indicate an overall decline in interest.

In fact, this decrease in volume could be an indication that large investors (whales) are taking advantage of lower prices to buy more coins, which could then lead to an increase in prices.

Will the bullish signal materialize?

By combining analisis on-chain And technical, there is reason to speculate that this big move by whales could be a bullish signal for Shiba Inu.

If SHIB manages to stay above the support level and continues to attract interest from whales, there is huge potential to see price surge in the coming days or weeks.

SHIB's success in maintaining this momentum could strengthen its position as one of the most popular meme coins in the crypto market.

However, it is important to remember that even though technical indicators and whale movements provide positive signals, the crypto market remains very weak volatile and can change quickly. Investors are advised to be careful and don't just rely on one-way analysis, as crypto prices can fluctuate sharply in a short time.

Conclusion

Movement 3.3 Trillion Coin SHIB which was recently detected as outflow from the stock exchange gives a signal that whales increasingly believe in the potential of Shiba Inu.

With supportive technical indicators and great interest from large investors, SHIB could be in a position to experience price rally soon. For investors planning to get involved, it is important to follow these developments closely and take advantage market opportunity wisely.

FAQ About Shiba Inu

Will Shiba Inu Hit $1?

In other words, there is absolutely no chance of Shiba Inu rising to $1 per token as it is currently doing. However, the community is attempting to reduce supply by burning tokens, which means removing them from circulation forever.

Does SHIB Have a Future?

In 2025, Shiba Inu (SHIB) is expected to experience significant fluctuations with a predicted low of $0.0000234 and a high of $0.0000899. 2025 will bring volatility and many entry opportunities.

How Much Is 1 SHIB Worth?

Currently Shiba Inu (SHIB) is trading at $0.0000277.

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Reference

Coinpedia 3.3 Trillion SHIB Leaves Exchanges, Are Whales Buying?, accessed December 13, 2024.

coinmarketcap, Chart Shiba Inu (SHIB) Coinmarketcap, accessed December 13, 2024.

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