-AD-
HomeNewsLong-Term Outlook for SHIB: Whales Accumulate as Technical Indicators Signal Potential Rally

Long-Term Outlook for SHIB: Whales Accumulate as Technical Indicators Signal Potential Rally

- Advertisement -
  • Shiba Inu whales have been accumulating trillions of SHIB, indicating a long-term investment strategy.
  • Technical indicators such as the golden crossover and Chaikin Money Flow suggest a possible future revaluation of SHIB.

Shiba Inu (SHIB) has great importance within the cryptomarket, not only because of its origin as one of the memecoins competing with Dogecoin, but also because of the investment strategy of the whales, who have accumulated trillions of SHIB in the last few months.

But what are these whales looking for with such hoarding? The answer seems to point to a vision for the future rather than a short-term play. Let’s take a closer look at this trend and what it could mean for SHIB value.

SHIBA-INU-SHIB-12.22.37-07-Feb-2024
Source: Santiment

Addresses not associated with exchanges now hold a higher amount of SHIB compared to those on exchange platforms. This phenomenon not only demonstrates a preference for holding SHIB outside of the quick-selling markets, but also suggests an expectation of long-term appreciation by large holders.

Now, let’s take a look at the current price of Shiba Inu.

SHIBUSD
Source: TradingView

Despite a drop of more than 37% over the past year, key technical indicators offer a glimmer of hope. For example, the golden crossover between the 50-day and 200-day exponential moving averages signals a possible favorable trend reversal for SHIB.

In addition, the Chaikin Money Flow (CMF) indicator shows a net inflow of capital into the token, which could be a precursor to a rise in its price.

So what can we expect for the future of SHIB?

While in the short term the price may not show much change, steady accumulation by the whales, coupled with promising technical signals, suggests that SHIB could be on track for notable appreciation in the medium to long term. Of course, the likelihood of reaching new all-time highs will depend on several factors, including overall market flow and continued interest in the token.

So, are we facing a strategic accumulation that portends a bright future for Shiba Inu, or is this simply another wave of speculation? The answer to this question may lie in the continued behavior of the whales and how the market will react to these technical signals. 

The current price of SHIB is at $0.000009173.


For now, what is clear is that SHIB remains a token of interest to both
long-term investors and those fascinated by the volatility and opportunities offered by the cryptocurrency market.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES