Shiba Inu falls 20%, but whales surge back in – Is SHIB’s recovery next?

• Shiba Inu whales scooped 1.93 trillion tokens.
• SHIB has made moderate gains, rising 1.03% in 24 hours.

Since hitting a local high of $0.00001764 three weeks ago, Shiba Inu [SHIB] has traded within a descending channel.

Over a month, the memecoin has declined by 20.53%, reflecting strong downward pressure.

Shiba Inu’s continued price decline has opened up a buying opportunity for many market participants. This is especially true for large entities, as whales re-enter the market, actively accumulating the dip. 

According to IntoTheBlock, Shiba Inu whales have resurfaced in the market, aggressively accumulating the memecoin.

Just two days ago, large holders’ inflow had dropped to a monthly low of 42 billion tokens.

However, in the past day, sentiment has shifted dramatically, with inflows surging to 1.93 trillion tokens.

This massive spike suggests whales are taking advantage of the price dip, reflecting growing demand for SHIB.

The strong demand from large holders is evident, as they are buying more than they are selling. The whale netflow has jumped to a monthly high of 1.92 trillion, indicating that whales have offloaded only 8 billion tokens.

With Shiba Inu whales entering a buying spree, this signals robust demand for the memecoin.

Notably, this buying activity isn’t limited to large holders, as SHIB’s exchange netflow has turned negative, reinforcing the trend of accumulation.

Over the last day, Shiba Inu’s spot netflow has dropped to $-2.7 million in total.

A negative netflow suggest that exchange outflows are outpacing inflow reflecting a high accumulation behavior across the market.

Any impact on SHIB price charts?

As anticipated, whale accumulation has positively impacted Shiba Inu’s price movement.

At the time of writing, SHIB was trading at $0.00001259, following a moderate 1.03% increase.

Before this uptick, the memecoin had been in a strong downtrend, with weekly and monthly declines. This suggests that whale capital inflow could provide the boost Shiba Inu needs to sustain further price gains.

If whales continue accumulating, it may encourage other market participants to buy, increasing overall demand—which often leads to higher prices.

If the momentum from large holders persists, SHIB could test the $0.000013 resistance level.

However, if whales shift to selling, SHIB may breach the $0.000012 support and dip to $0.0000119.