Signs of green shoots have appeared in Shiba Inu
Market, with whale accumulation and a light in the interior week that suggests a price extraction ahead.
Shib’s price has dropped almost 27% to $ 0.00001160 since mid-May and hit a 16-month low at $ 0.00001005 at a time, according to data source trading.
However, the fall caused whales – investors with ample capital supply and ability to move markets – to go to negotiation hunting. These devices recently bought 10.4 trillion shib -tookens worth approx. $ 110 million, according to Coindesk’s AI insight.
Meanwhile, the prices jumped 11% in the seven days to June 29 and formed an “insider week” light that signaled a break in down.
The pattern occurs when the trade area (High low) of a weekly candle is completely contained in the range of the previous weekly light. It is a sign of indecision where both buyers and sellers are not willing to lead the price action.
The occurrence of the said candlestick -pattern after a prolonged downward downward, as in Shib’s case, is said to represent the seller’s outlet and a potential for an upward price swing.
Key points
- Shib experienced a price of 4.3% from $ 0.00001147 to $ 0.00001198 during the 24-hour period from June 29, 04:00 to 30 June 03:00.
- The most significant price action occurred between 21: 00-22: 00 on June 29, when Shib broke out of its consolidation pattern of 5.8x above average.
- High-volume resistance established at $ 0.00001198, where subsequent profit taking led to the $ 0.0000101010 level.
- 24-hour closure rate of $ 0.00001164 represented a gain of 1.4% at the opening level.
- In the last 60 minutes from June 30, 02:53 to 03:52, Shib dropped 0.3% from $ 0.00001167 to $ 0.00001164.
- Two different phases marked the hourly period: an initial sharp decline to $ 0.00001056 between 03: 17-03: 28, followed by a recovery attempt topped at $ 0.00001165 around 03:45.
- Volume tips over 8 million USDT occurred under central reversing points at. 03:35 and 03:49, which suggests institutional positioning.
