SHIB’s 60% Dip Signals Strategic Accumulation and Bullish Outlook

The news details a significant 60% decline in SHIB from its local highs, yet market indicators and on-chain data suggest a bullish underpinning. Despite the drop, SHIB is trading just above $0.0000134 with key technical supports including the 200-day moving average and resistance at the 100-day moving average. The asset has rebounded from its April lows and is testing essential technical zones, while its RSI remains neutral at 56, indicating a period of consolidation. Notably, whale activity shows increased inflows of 24.14% over the past 90 days and a recent boost of 8.78% in the last week, coupled with a decline in outflows—signaling that large holders are accumulating rather than selling. This accumulation, reinforced by a redistribution of tokens among wallets holding between $100,000 and $10 million, suggests a stabilization phase that could lead to a medium-term price reversal if SHIB manages to break above $0.0000146 and sustain support near $0.0000128. Overall, while the price remains in a wider downward trend, the strategic positioning of whales hints at deferred gains and a positive market outlook.