Shiba Inu (SHIB) has caught the attention of traders and analysts, with a TradingView report highlighting a critical accumulation zone that could set the stage for a significant rebound.
Despite a bearish market trend, SHIB shows potential for recovery, with upside targets reaching as high as $0.00004170.
Current Market Performance
Shiba Inu is trading at $0.00002096, marking a 3.89% dip in the past 24 hours and a cumulative weekly loss of 5.33%. These declines reflect sustained selling pressure across the cryptocurrency market.
Despite this, key technical levels suggest an opportunity for recovery, especially as long-term holders and whales continue to accumulate the token.
| Metric | Value |
|---|---|
| Current Price | $0.00002096 |
| 24-Hour Volume | $550,146,631 |
| Weekly Change | -5.33% |
| Long-Term Holder Growth | +0.51% |
| Whale Inflow (Jan 7, 2025) | 33.59 trillion tokens |
Accumulation Zone Insights
The TradingView analysis zeroes in on Shiba Inu’s price action within an upward trend channel on a 2-day chart. It identifies a crucial accumulation zone near $0.0000162, aligning with the lower boundary of the ascending channel.
This level serves as a potential long entry point, particularly if bears push the price lower.
This retracement is seen as a natural part of a bullish structure, offering opportunities for accumulation before a potential price rally.
Price Targets
Following the accumulation phase, analysts have outlined the following price targets for Shiba Inu:
- First Target: $0.00002800, corresponding to an immediate resistance level.
- Second Target: $0.00003500, aligned with historical resistance zones.
- Third Target: $0.00004170, representing a potential 98.10% increase from current levels.
The progression to these levels depends on SHIB’s ability to maintain its accumulation phase and capitalize on renewed investor interest.
Growing Long-Term Holder Base
On-chain data from IntoTheBlock highlights a notable shift in SHIB’s holder base:
- Long-Term Holders: Addresses holding SHIB for over a year increased by 0.51%, totaling around 950,000.
- Mid-Term Holders: Grew by 19.98%, indicating rising confidence among mid-term investors.
- Short-Term Traders: Decreased by 35.11%, reflecting reduced speculative activity.
This shift toward long-term and mid-term holders underscores market stability and reinforces the accumulation narrative.
Whale Activity Boosts Optimism
Shiba Inu recently witnessed an extraordinary spike in whale accumulation. On January 7, 2025, large holders moved 33.59 trillion tokens, valued at $739 million.
This influx accounted for 5.7% of SHIB’s circulating supply, making it one of the most significant accumulation events in the token’s history.
Such whale activity often precedes major price movements, signaling strong confidence in the token’s future prospects.
Shiba Inu’s performance and technical setup suggest a bullish rebound may be imminent, with a potential rally to $0.00004170. The combination of whale activity, increasing long-term holder dominance, and a well-defined accumulation zone makes SHIB a token to watch in the coming weeks.
