Shiba Inu Price Prediction as Whale Buys 445 Billion SHIB – Is SHIB Ready for a Breakout?

cryptonews.com:

Today, the Shiba Inu price has decreased to $0.00002673, marking a 1.5% drop over the past 24 hours, mirroring instability in the broader market.

Despite the recent decline, SHIB has shown a modest recovery of 0.5% in the last hour.

Additionally, the meme token has achieved a 7% increase over the past week and a 19% rise over the past month, indicating continued interest and resilience in its market performance.

These gains come as one whale transfers 445 billion SHIB from Robinhood to their own wallet, potentially a sign that the coin could be ready to jump.

And given that it had fallen in the past day, we may see a strong recovery over the weekend, and beyond.

Looking at SHIB’s chart, it seems as though the meme token is ready to rebound again after correcting from an earlier high.

For instance, its RSI (purple) peaked at close to 80 a couple of days ago and has since dropped to 35, yet it has begun rising again in the past couple of hours.

This suggests a comeback, although it’s worth mentioning that the coin’s 30-day moving average (orange) is still well above the 200-day average (blue) and has yet to drop below.

In other words, SHIB may need to suffer a little more before it can mount a concerted rally.

This may be sensible advice, yet the token’s 24-hour trading volume is still enjoying its highest levels in a month, at roughly $1.3 billion today.

This compares to $300 million only a few days ago, indicating that demand for SHIB has picked up massively.