SHIB/USDT is currently trading around $0.00001363, marking an approximately 11.5% drop over the past 24 hours. However, it's crucial to note that the price is successfully holding above the key support level of $0.00001373.
Recently, we've witnessed a significant increase in the activity of so-called "large holders" or "whales" concerning SHIB/USDT. Their netflow has reached a two-month high, signaling heightened interest. In the past 24 hours, addresses holding at least 0.1% of the total SHIB supply accumulated an impressive 4.66 trillion SHIB, representing an investment of a staggering $63.7 million. These major players clearly believe in the potential for a price recovery.
What's Next? Scenarios for SHIB/USDT
Bullish Scenario (Uptrend):
Should SHIB/USDT successfully bounce off the support level at $0.00001317, it would likely pave the way for further price appreciation. It could potentially reach $0.00001423. If this level solidifies as new support, it would mark a full recovery of today's losses and could initiate a new uptrend, provided that broader market conditions remain favorable. The investment by the whales would be crucial in this scenario.
Bearish Scenario (Downtrend):
However, if SHIB/USDT fails to hold above the support of $0.00001317 and falls below this level (likely due to profit-taking by other market participants), the popular "meme coin" could slip to $0.00001188. Such a development would invalidate the bullish thesis and further reduce investor confidence. The next few days will be critical for SHIB to demonstrate whether it can
maintain its current support levels.
#forex #SHIB #USDT #SwingTrade
Recently, we've witnessed a significant increase in the activity of so-called "large holders" or "whales" concerning SHIB/USDT. Their netflow has reached a two-month high, signaling heightened interest. In the past 24 hours, addresses holding at least 0.1% of the total SHIB supply accumulated an impressive 4.66 trillion SHIB, representing an investment of a staggering $63.7 million. These major players clearly believe in the potential for a price recovery.
What's Next? Scenarios for SHIB/USDT
Bullish Scenario (Uptrend):
Should SHIB/USDT successfully bounce off the support level at $0.00001317, it would likely pave the way for further price appreciation. It could potentially reach $0.00001423. If this level solidifies as new support, it would mark a full recovery of today's losses and could initiate a new uptrend, provided that broader market conditions remain favorable. The investment by the whales would be crucial in this scenario.
Bearish Scenario (Downtrend):
However, if SHIB/USDT fails to hold above the support of $0.00001317 and falls below this level (likely due to profit-taking by other market participants), the popular "meme coin" could slip to $0.00001188. Such a development would invalidate the bullish thesis and further reduce investor confidence. The next few days will be critical for SHIB to demonstrate whether it can
maintain its current support levels.
#forex #SHIB #USDT #SwingTrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.