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Whale Accumulation, Inside Week Candle Hint SHIB Price Rebound
HomeNews* Large investors acquired 10.4 trillion Shiba Inu (SHIB) tokens worth about $110 million following a major price drop.
In technical analysis, the appearance of an inside week following a prolonged downtrend often points to sellers losing strength, creating a potential for price recovery. During the 24-hour period starting June 29 at 04:00, SHIB’s price moved from $0.00001147 to $0.00001198, representing a 4.3% swing. The most notable activity was recorded between 21:00 and 22:00 on June 29, when SHIB broke out of its trading range with trading volume 5.8 times above average.
High volume set resistance at $0.00001198, and profits were booked soon afterward, bringing the price to a support level at $0.00001160. SHIB closed the 24-hour period at $0.00001164, up 1.4% from its opening value.
Within the last hour of June 30, SHIB experienced a decline to $0.00001056 before rebounding toward $0.00001165. Trading volume exceeded 8 million USDT during key reversals at 03:35 and 03:49, suggesting active positioning by larger traders or institutions.
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