Shiba Inu Nears Critical Support as Whales Continue to Accumulate
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jun 15 2024- Decline in Centralized Exchange Holdings: Shiba Inu experiences a 2.4% drop in centralized exchange holdings, indicating potential bullish sentiment despite a 15% weekly loss.
- Whale Activity and Accumulation Trends: Increased accumulation of SHIB by wallets holding 10K-10M tokens suggests growing investor confidence amidst market volatility.
- Market Projections and Potential Rallies: Analysts predict a potential 501% rally for SHIB, highlighting significant profit potential for buyers within a specific price range.
- Market Conditions: Shiba Inu faces a persistent Bitcoin-led market pullback, nearing the risk of losing the $0.00002 price level to bearish trends.
- Investor Outlook: Decreasing exchange supplies and increasing accumulation by whales indicate a potential bullish outlook for Shiba Inu, despite ongoing market challenges and volatility.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
