Shiba Inu Whales Accumulate as Retail Investors Panic Sell

• Whale accumulates 583B SHIB from Binance as the price hits $0.000015.
• Shiba Inu finds strong support at $0.000015 with 91.7T SHIB held by 49,000 addresses.
• Increased SHIB demand and reduced selling pressure indicate bullish sentiment.

Shiba Inu (SHIB) has recently experienced a notable price decline, settling at $0.000015. However, this decline has not discouraged major investors.

Instead, it has presented a significant buying opportunity for large holders, often referred to as “whales.” A recent acquisition by a new wallet has highlighted this trend, with the wallet accumulating over 583 billion SHIB tokens from Binance, valued at approximately $9.725 million. This movement indicates strong confidence in the token’s future, even amid a broader market downturn.

The recent activity of the whale extended beyond Shiba Inu to include other major cryptocurrencies like Ethereum, PEPE, and Binance Coin (BNB). This wallet’s total assets now total around $130 million, demonstrating a diversified investment strategy. The accumulation of SHIB and other assets suggests a calculated move to capitalize on the lower prices across the market.

Source Etherscan

Shiba Inu’s market dynamics paint a positive outlook regardless of the recent price drop. The token has established a strong support level at $0.000015, reinforced by over 91.7 trillion SHIB tokens held by nearly 49,000 addresses. This substantial support base highlights the collective belief among a large number of holders in the token’s resilience and potential for recovery.

Significant net outflows from exchanges further evidence the decrease in selling pressure and the increased demand for SHIB. Investors are moving their SHIB holdings to private wallets, which indicates a long-term holding strategy rather than short-term trading. This behavior is typically seen as bullish, suggesting that holders expect the price to rise.

Shiba Inu’s ability to maintain its support level is crucial for its price stability. The 91.7 trillion tokens acting as a support base provide a buffer against further price declines. This foundation is essential for attracting new investors and maintaining the confidence of current holders.

Shiba Inu’s recent price stabilization at $0.000015, coupled with significant whale accumulation and robust support from numerous holders, highlights the token’s potential for future growth. The positive market sentiment and strategic moves by major investors indicate that Shiba Inu remains a cryptocurrency to watch in the coming months.