U.Today - (SHIB) has recently been in the spotlight following its price fluctuations and considerable dynamics. With the 5 trillion drop evident in the recent charts, many investors might be getting nervous. However, a deeper analysis of the trends and patterns paints a more optimistic picture, especially regarding the activities of so-called "whale" investors.
A SHIB/USDT price chart shows SHIB experiencing increased volatility over the past months. However, an interesting pattern emerges — every significant dip seems to be followed by a period of recovery. This "zig-zag" pattern indicates a series of healthy corrections, a natural part of any cryptocurrency's journey, showing the resilience of in bouncing back.
Source: More telling are the charts detailing the activity of SHIB whales. Their trades can considerably impact the price of the currency.
In the recent period, there is a visible decrease in the number of large transactions and the overall volume. This is where it gets intriguing. Typically, a decrease in whale activity, especially during periods of price decline or stagnation, indicates that these big players are holding onto their assets, anticipating a future rise. If whales believed the value would plummet further, they would likely be offloading their holdings, causing a surge in large transaction volumes.
Moreover, the price is currently battling a local resistance level. The combined effect of decreased whale activity and the resistance battle could suggest that once SHIB breaks through this resistance, there is potential for a bullish uptrend, furthered by the support of whales who held onto their assets during the storm.