Big Whale Movements Arrived in Shiba! What will be the price?

Whale movements and indicators in Shiba Inu, which is considered the second largest meme coin, may indicate the price will come.

As of September 13, more than 1.3 trillion Shiba Inu were attracted to wallets after a 6% drop in price. According to SHIB watchdog ShibaPlay, trading has continued with hundreds of millions of Shiba since the second most valuable meme coin lost key support levels.

At the time of writing, Shiba was not working on a recovery plan. Price tracking platform CoinMarketCap showed that SHIB is trending further down with a 4.13% drop. The simultaneous occurrence of these shows that the SHIB's short-term bottom is almost in sight.

What Exactly Is Strategy

Not only did the whales buy large quantities of SHIB. According to ShibaPlay, a whale that bought 193,923,219,456 SHIBs also transferred it, according to Etherscan. Subsequent processes followed a similar pattern. With the rapid succession of warning, there might have been a situation where the idea that the decline could be bought should be evaluated.

According to the MACD indicator, SHIB may not be finished with the price drop. With the gap between the 26-period and 12-period exponential moving averages (EMAs) below the histogram, the bearish momentum was still holding.

Still, both the buy (blue) and sell (orange) forces on the MACD were negative. This may indicate that the price of SHIB may drop further, which should not be ignored, especially as the sales force is in a pole position on the buying pressure.

What to Consider

Presumably this seems to be a situation where SHIB whales are talking to coin investors again. Data from Glassnode seemed to agree that the whales were removing the SHIB they had purchased from exchanges.

The blockchain analytics platform showed that the stock exchange balance recorded on September 12 decreased. While this number was 168.29 trillion on the said date, close to one trillion SHIB were removed from the stock market in the period from that date to press time.

However, the total volume of SHIB had declined over the past 24 hours. Santiment also found that the active deposits are not very impressive. So it may be that only whales are seeing an opportunity to accumulate. However, there is still the possibility of buying another bottom.

Source: coin-turk.com