Shiba Inu (SHIB/USD) whale buying intensifies but does price action show it?

  • Shiba Inu is one of the most purchased cryptocurrencies by Ethereum whales

  • Price action remains bearish despite Sibarium update

  • SHIB May Continue Downtrend Without New Developments Happening

The memetic cryptocurrency Shiba Inu (SHIB/USD) is once again on the whales’ radar. According to Whalestats, Shiba Inu is one of the most purchased. Cryptocurrency Among Ethereum whales. There’s a reason whales have been eating so much since the beginning of the year.

In a December 29 tweet, Shiba Inu lead developer Toshitoshi Kusama heightened speculation about an update to Shibarium. Shibarium will be a layer 2 solution that expands the use cases of the Shiba Inu ecosystem. This update includes new features such as the Shiba Inu Metaverse and blockchain games. These are expected to be game-changers that tilt Shiba Inu from his current meme-him label and give him a competitive edge in Web3.

According to Kusama’s tweet, Shibarium will be launched “soon.” The developer expressed optimism after meeting with “United UND Team on Sibarium”. As you know, Shibarium’s late update was a bane for his SHIB. At the same time, frequent updates on Sibarium have not paid off these days. The latest update is positive, but speculators are voicing caution as SHIB prices remain weak.

Shiba Inu recovers slightly but maintains downtrend

SHIB/USD chart by TradingView

The outlook on the daily chart shows that SHIB is bearish and SHIB continues its downtrend. Cryptocurrencies are recovering in the short-term, with the RSI above the midpoint. The SHIB is retesting potential short-term resistance at $0.0000085. The price has already faced some rejections at the level and a correction is imminent.

SHIB Conclusion

The Shiba Inu remains bearish despite the increasing accumulation of whales. Potentially, Civalium renewal and Whale accumulation are bullish triggers. However, investors are hoping that the update will come later. For now, investors should watch closely. buy sib On a confirmed bullish reversal.

Where can I buy it


eToro offers a wide range of cryptocurrencies such as Bitcoin, XRP, as well as crypto-fiat and crypto-crypto pairs. eToro users can connect, learn, copy, and be copied by others.

Buy SHIB on eToro today


Binance is one of the largest cryptocurrency exchanges in the world. Suitable for more experienced investors, with over 600 cryptocurrencies to choose from. Binance is also known for its low trading fees and multiple trading options that users can benefit from. Peer-to-peer trading, margin trading, spot trading.

Buy SHIB Now on Binance

Leave a Reply

Your email address will not be published. Required fields are marked *