Signs of green shoots appear in Shiba Inu
The market, with whale accumulation and a candle within the week suggesting a price recovery ahead.
Shib prices have dropped almost 27% to $ 0.00001160 since mid-May, hitting a 16-month low $ 0.00001005 at one point, according to Data Source Tradingview.
The denial, however, motivates whales – investors with sufficient capital supply and the ability to move markets – to go to bargain hunting. These creatures recently bought 10.4 trillion shib tokens worth about $ 110 million, according to CoinDesk’s AI views.
Meanwhile, prices booked 11% on seven days until June 29, forming a “Sunday Insider” candle, which signed a pause in the downtrend.
The pattern occurs when trading coverage (High) of a weekly candle is fully enclosed within the scope of the previous weekly candle. This is a sign of indecision, along with both buyers and sellers who do not want to rule out price action.
The emergence of such a candlestick pattern after a long downtrend, as in Shib’s case, is said to represent the seller’s fatigue and a potential for an upward price swing.
Basic points
- Shib experienced a 4.3% price swing from $ 0.00001147 to $ 0.00001198 during 24 hours from 29 June 04:00 to 30 June 03:00.
- Most of the significant price actions took place between 21: 00-22: 00 on June 29, when the Shib exploded in its integration pattern at 5.8x above-average volume.
- The high resistance volume established at $ 0.00001198, with subsequent income extraction leading to support at the $ 0.00001160 level.
- The 24 -hour price closure of $ 0.00001164 represents a 1.4% gain from the opening level.
- In the last 60 minutes from 30 June 02:53 to 03:52, the shib dropped 0.3% from $ 0.00001167 to $ 0.00001164.
- Two unique phases marked the hourly period: an initial sharp decline of $ 0.00001056 between 03: 17-03: 28, following a recovery attempt holding $ 0.00001165 around 3:45.
- Volume spikes exceeding 8 million USDTs took place at major reversal points at 03:35 and 03:49, suggesting institutional positioning.
