- Alas, the noble Shiba Inu has suffered a grievous blow, losing a staggering $1.3 million in market value this month, as the great whales, those titans of the sea, have led the charge in shedding their precious holdings.
- Is it possible that this memecoin, much like a politician during an election, is on the brink of a miraculous rally?
In the wake of a market-wide tempest, it appears that the whales have emerged from the depths to offer their support. Even the humble memecoins are not left to flounder, as one solitary whale wallet has amassed a jaw-dropping 257.5 billion Shiba Inu [SHIB] coins. One must wonder, could this herald the dawn of a new bull rally, or is it merely another act of manipulation, akin to a magician pulling a rabbit from a hat?
Shiba Inu on whale alert
Behold, the top ten exchange addresses now hold a staggering 130.47 trillion SHIB, with an additional 3 trillion added this very month. Yet, despite this accumulation, our dear memecoin finds itself in a struggle, trading 13% below its New Year opening price and perilously close to its critical support line of $0.00001500, as the clock ticks on.
Since the launch of the TRUMP, Shiba Inu has been on a relentless decline, hitting daily lows while remaining far from the overbought territory on the RSI. The CMF, that fickle friend, has also flashed bearish signals, leaving one to ponder the fate of our beloved coin.
Adding to the intrigue, the top ten addresses have unceremoniously dumped 30 trillion SHIB in the last ten days. Such a sharp imbalance of supply and demand has cast SHIB into a downward spiral, erasing $1.31 million in market value throughout the month of January.
But could the winds of fortune finally be shifting? At the time of this writing, SHIB has risen by 6% in the last 24 hours, trading at a price reminiscent of its rebound during the election rally, which saw a remarkable 58% surge in a mere week. Could it be that the whales, those great leviathans of the sea, are beginning to re-accumulate, signaling the start of a much grander rally?
Just another manipulative stunt?
After two months of relentless downtrend, Shiba Inu has been oversold, much like a fine wine left uncorked for too long. The big gains have been realized and locked away, and the cycle seems to have shifted, leaving us to ponder what lies ahead.
Yet, as the dust settles, the potential for growth looms on the horizon. However, the buying volume remains flat at a mere $600 million, a far cry from the explosive $7.6 billion witnessed in December. Retail investors, it seems, have not returned, leaving this recent pump largely driven by the whims of the whales.
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In the month of January alone, whale wallets have voraciously consumed an astounding 40 trillion Shiba Inu coins. As the new month dawns, these whales are poised to re-accumulate, with the 256 million currently held possibly just the tip of the iceberg.
Realistic or not, here’s SHIB market cap in BTC’s terms, a riddle wrapped in an enigma.
But do not be deceived—a lasting rally is far from assured. With volume still languishing and volatility rising before the FOMC meeting, that 6% gain could very well be a clever manipulation tactic. Yet, should the market turn bullish, a 58% rally could indeed materialize, leaving us all to wonder if we are mere pawns in this grand game of chance.
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2025-01-28 22:18