Shiba Inu recovery could be around the corner as there's a substantial rise in whale activity. With more than a 90% increase in inflows, there's certainly a bullish tendency around large SHIB holders. With changing momentum on the market, the next stop could be a comeback to pre-crash values.
SHIB is currently struggling to overcome short-term resistance levels, trading at about $0.00001571. For weeks SHIB has been under pressure as a result of the price consolidation phase and descending trendline. Nonetheless, a possible breakout from this trendline may be near given the rising inflows.
SHIB/USDT Chart by TradingView
Around $0.00001660 is the next significant resistance level; if it is broken, this level may trigger a more robust upward trend toward $0.00001700. Beyond this, $0.00001882 continues to be a critical obstacle to a complete recovery. A retest of $0.00001400 could occur if the $0.00001500 level, which is serving as local support, is not maintained. The 90% increase in inflows, which is mostly due to whale activity, is one of the most encouraging indicators for SHIB.
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Large holders' initial SHIB accumulation typically occurs prior to a price increase. This implies that large retail investors or institutional players might be preparing for a possible price increase. With an increase in whale activity, SHIB may be about to reverse its trend. A significant price recovery could result from a breakout above resistance levels if buying pressure keeps rising.
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Before confirming an upward trend, SHIB must still overcome significant resistances. Despite the fact that SHIB's short-term outlook is still unclear, the recent spike in inflows offers hope for a possible bullish move soon.
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