Volunteer Shiba Inu shows signs of green buds
Markets, whales accumulation and weekly candles inside indicate future prices recovery.
According to data source transactions, Shib’s price has fallen nearly 27% since mid-May to $0.00001160, reaching a 16-month low of $0.00001005 at some point.
However, the decline prompted whales (investors with sufficient capital supply and market transfer capabilities) to bargain. According to Coindesk’s AI Insights, the entities recently purchased 104 trillion romantic tokens worth about $110 million.
Meanwhile, the price bounced 11% over the seven days to June 29, forming an “internal week” candle, marking a pause in the downward trend.
Patterns occur during trading range (High and Low) The weekly candles are fully included in the candle range of the previous week. This is a sign of indecision, and neither buyer nor seller is willing to lead the price action.
It is said that after the extended downward trend, the occurrence of the above candlestick pattern is said to represent the fatigue of the seller and may rise.
Key points
- From $0.00001147 to $0.00001198, the price of SHIB fell 4.3% from 04:00 on June 29 to 03:00 on June 30.
- The most important price action occurred between 21:00 and 22:00 on June 29, when Shib broke away from the above-average uniform mode in a stable mode of more than 5.8 times.
- The high volume resistance is $0.00001198, followed by a profit, resulting in support of $0.00001160.
- The 24-hour closing price is $0.00001164, representing 1.4% gain on the open level.
- Shib dropped from $0.00001167 to $0.3% in the last 60 minutes from 02:53 to 03:52 on June 30.
- Two very different stages mark the hourly cycle: between 03:17-03:28, the initial sharp drop to 0.00001056 $0.00001056, followed by recovery attempts to reach $0.00001165 around 03:45.
- A volume peak of more than $8 million occurred at the critical reversal points of 03:35 and 03:49, indicating institutional positioning.
