DeFi & NFT
By James Thorp
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Shiba Inu (SHIB) has seen a decline of 12.34% over the last month, reaching a two-week low. Despite facing downward pressure, SHIB buyers are showing renewed interest in the…
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Over the past four days, SHIB has faced a sustained decline, dropping from a high of $0.0000156 to a two-week low of $0.000012. As of writing, Shiba Inu was trading at $0.
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This continued downward momentum is reflected in the Stochastic RSI, which has been on a sharp decline since a bearish crossover four days ago, dropping from 100 to 4.23.
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Renewed Buying Activity Signals Potential Recovery
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Data suggests that both retail investors and large holders (whales) are actively buying SHIB.
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Coinglass data reveals that SHIB's netflow has turned negative, indicating more withdrawals than deposits on exchanges.
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The growing activity of whales plays a key role in Shiba Inu's accumulation phase. Large holders are continuing to increase their SHIB holdings, with outflows from these whales…
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The accumulation by both whales and retail buyers is a sign of strong market confidence, with investors expecting Shiba Inu’s price to rise in the near term.
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While the current buying activity signals optimism for a market recovery, the outcome largely depends on whether the bulls can reverse the prevailing downward trend.
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Shiba Inu’s recent price dip has attracted both retail buyers and whales, indicating that market sentiment is shifting toward the bullish side.
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