Shiba Inu (SHIB) Whales Accumulate as Price Shows Signs of Recovery

2025-06-30 05:09:03

Gate News bot 消息，06月30日，Shiba Inu (SHIB) market is showing signs of recovery, with whale accumulation and an "inside week" candlestick pattern suggesting a potential price rebound.

According to TradingView data, SHIB's price has fallen nearly 27% since mid-May to $0.00001160, briefly touching a 16-month low of $0.00001005. However, this dip has prompted "whales" to buy the dip. CoinDesk's AI insights reveal that these entities have recently purchased 10.4 trillion SHIB tokens, worth approximately $110 million.

Meanwhile, SHIB's price has rebounded 11% in the seven days leading up to June 29, forming an "inside week" candlestick pattern, indicating a pause in the downtrend. This pattern occurs when a weekly candle's trading range is completely contained within the previous week's range, suggesting hesitation from both buyers and sellers.

Analysts note that such a candlestick formation following a long-term downtrend, as in SHIB's case, often indicates seller exhaustion and potential price upside.

SHIB-1.52%

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