Shiba Inu (SHIB): Is Near-Term Bottom About to Occur?

Shiba Inu has recorded more than 1.3 trillion token accumulation after the 6% crash of September 13. SHIB’s watchdog ShibaPlay revealed that the altcoin saw transactions worth millions after the Dogecoin rival lost its vital support regions.

Shiba Inu wasn’t strategizing recoveries during this publication. Moreover, Coinmarketcap data shows the meme coin stretched its downside trend, losing another 4.13%. The simultaneous developments suggest that Shiba Inu’s near-term bottom is around the corner.

What’s the Exact Strategy?

Besides the massive SHIB accumulation by these whales, the large investors resorted to similar tendencies, transferring the tokens almost immediately. ShibaPlay confirmed that a whale that purchased 193,923,219,456 coins had transferred the SHIB, according to Etherscan receipt.

Also, subsequent transactions followed similar patterns. With the transfer alert coming in swift successions, the narrative of buying the dip remained a thing to evaluate. The MACD (Moving Average Convergence Divergence) shows Shiba Inu could not have completed its downside trip.

A bearish stance remained as the 26- and 12-period EMAs difference was beneath the histogram. Also, the MACD indicated that the selling and buying momentum was negative. That confirms that the meme coin might slide further, especially with the selling strength seemingly outpacing buying.

Meanwhile, the AO (Awesome Oscillator) matched the MACD readings. The indicator displayed red trends, whereas bullish propositions didn’t exist. However, can that see SHIB’s accumulation surpassing two trillion?

Just Listen

Perhaps, this could be the narrative for Shiba Inu whales talking to the asset traders once more. Glassnode data appeared to support whales withdrawing the purchased $SHIB from exchanges. The blockchain analytic site indicated that the exchange balance has plummeted since September 12. The metric sways at 168.29 trillion during the mentioned date.

However, enthusiasts have withdrawn one trillion Shiba Inu by this writing. Shiba Inu’s total volume declined within the past 24 hours. Also, Santiment confirmed impressive active deposits. Therefore, whales could be the only investors observing an opportunity to accumulate.

Moreover, the probability of another dip-buy remained high. What are your opinions about Shiba Inu’s outlook? Should we anticipate rebounds soon? You can leave a reply in the section below.