Whales, Wedges, and Shiba Inu: Can the Shibarium Upgrade Fuel a 30% Surge?
- Whale activity and SHIB withdrawals suggest a shift towards long-term value positioning.
- The Shibarium upgrade could elevate SHIB to a utility token, boosting long-term growth.
- Increased network activity hints at a strategic repositioning of SHIB from hype to utility.
Shiba Inu (SHIB) has experienced a slight rebound, gaining 0.95% in the last 24 hours to trade at $0.00001234. Despite the uptick, the token is still down by 7.41% over the past week, indicating cautious sentiment among traders. Analysts focus on technical breakouts and whale activity, but the real change may lie in the deeper trends emerging beneath the surface.
While SHIB’s price shows a small positive movement, analysts are keeping a close eye on its technical patterns. Analyst SHIB Knight points out a falling wedge pattern that could push SHIB to $0.000016. If that happens, SHIB could experience a 33% increase.
Whale Surge and SHIB Withdrawals Signal Long-Term Confidence
A significant trend is the increasing number of SHIB tokens being withdrawn from exchanges. Data from Coinglass reveals that $3.4 million worth of SHIB has exited exchanges in just two days. This movement hints at a shift in investor behavior. Rather than focusing on short-term speculation, more holders are choosing to lock up their tokens.
This shift in behavior is accompanied by growing whale activity. IntoTheBlock reports an 870% increase in whale transactions, with the value rising from $2.7 million to $26.2 million within 24 hours.
This increase hints at big investors becoming more bullish about SHIB in the long term. It suggests that whales are positioning themselves for a shift in SHIB’s fundamentals, with future growth expected to be driven by utility rather than speculation.
SHIB’s Key Support Zone: Poised for Future Growth?
Analyst Wyckoff Insider highlights that SHIB has been testing a critical support zone between $0.000009788 and $0.000011726. Historically, this zone has acted as a base for accumulation.
As SHIB remains above this level, it suggests that a solid foundation is forming for future growth. If SHIB can stay above this support, it may be poised for upward momentum in the near future.
If SHIB remains above the support plane, the potential first upside target is at $0.000022107, which could be drawn on past resistance stages. A better-case scenario is the 0.000030905, since this is what SHIB reached on previous bull runs.
Rising activity on the Shiba Inu network, combined with the Shibarium upgrade, signals increasing interest in its long-term utility. Meanwhile, the declining exchange liquidity and growing number of whale holders suggest that investors are positioning themselves for long-term gains.
Related: Shiba Inu Wallet Upgrade Bridges Ethereum and Shibarium
If the Shibarium upgrade turns out to be a success, SHIB might capture the attention of speculative investors. It could also attract users who see it as a practical utility token. While analysts monitor technical breakouts and whale spikes, the real paradigm shift might be happening in the background.
