Whales and Smart Money Dey Buy SHIB for Important Support
Shiba Inu (SHIB) price don settle for one important support level around $0.00001220 after e drop 25% from July high plus e don fall 63% since last November. On-chain data show say whale dem holdings don rise reach 12.12 billion SHIB and smart money positions don jump 86% to 11.70 billion tokens for the past month. Meanwhile, SHIB balance for exchanges don fall to 282.7 trillion from 289 trillion, meaning say selling pressure dey reduce. Technically, price dey follow ascending trendline since April 2024, this one show say bearish people no too get power to push price down again. If support hold, SHIB fit bounce back 32% come near $0.00001600, but burn rate and Shibarium network activity still remain key risks.
Bullish
Whale and smart money dey accumulate for long-term ascending trendline support wey dey show say bullish confidence dey grow. Di exchange balances wey dey drop dey reduce selling pressure, a pattern wey don happen before any rally for other altcoins. Di 32% upside target reach $0.00001600 align with one key resistance area, make short term bounce likely if on-chain sentiment continue. For long run, to keep momentum go depend on better burn rates and Shibarium network adoption, but di current data dey show clear shift from bearish to cautious bullish side.