Shiba Inu Price Prediction as Whale Moves 800 Billion SHIB Within 1 Minute – Big News Coming?

cryptonews.com:

SHIB has dropped by 6% in the past 24 hours, with the Shiba Inu price moving to $0.00002401 on day when the crypto market has fallen by 1.5%.

The meme coin remains up by 2% in a week, but is down by 10% in a fortnight and by 15% in the last 30 days.

On the other hand, SHIB holds onto a healthy 150% gain in the past year, with the coin remaining popular among traders, despite its ups and downs.

And today’s move follows closely on the heels of large transfer of 875 billion SHIB, with a whale taking this sum off Robinhood on May 2, in a sign that the meme coin could rally big again soon.

While SHIB has suffered a blow today, its indicators suggest that it isn’t too far from making a comeback.

Its relative strength index (purple) had fallen as low as 35 this morning, yet it has since begun rising towards 50, in a sign that SHIB’s discounted price is tempting buyers.

Meanwhile, SHIB’s 30-day moving average (orange) is just dropping below its 200-day (blue), which usually indicates further losses in the near term.

Yet this move also usually indicates that a bottom isn’t too far away, and that the coin will soon rebound.

What’s also encouraging in this respect is the fact that SHIB’s resistance (red) and support (green) levels are converging on each other.

Normally, such a convergence creates a pinch point that forces a given asset to make a big move in either direction.

And given that SHIB has already taken its fair share of punishment over the past few days, you would expect this move to be positive.