Shiba Inu Recovery on the Horizon

Shiba Inu (SHIB) may be on the verge of recovery due to a significant rise in whale activity, featuring a more than 90% increase in inflows. This trend indicates a bullish sentiment among large SHIB holders.

Currently, SHIB is facing challenges in surpassing short-term resistance levels, trading around $0.00001571. The cryptocurrency has been under pressure lately, affected by a phase of price consolidation and a descending trendline. However, a potential breakout from this trendline seems likely with the current rise in inflows.

The next critical resistance level is approximately $0.00001660. If breached, this could catalyze a stronger upward movement towards $0.00001700. Further along, $0.00001882 presents another significant barrier to a complete recovery. Should SHIB fail to maintain the local support at $0.00001500, a retest of $0.00001400 could be on the cards. The recent 90% rise in inflows, largely driven by whale activity, serves as a positive indicator for SHIB.

Typically, substantial accumulation by large holders takes place before a price surge, suggesting that major retail investors or institutional entities might be gearing up for a potential price increase. An escalation in whale activity hints that SHIB could soon reverse its trend. A serious price rebound is plausible if the buying pressure persists and resistance levels are breached.

While SHIB must navigate through significant resistances before confirming an upward trend, the recent upsurge in inflows presents optimism for a possible bullish move in the near future.