SHIB whales added 2.03 trillion tokens, signaling renewed confidence.
MVRV dropped below 1, showing Shiba Inu is undervalued.
Technical indicators suggest a bullish breakout toward $0.00001755.
Shiba Inu's SHIB has slammed into a major support level, but something surprising is happening. Whales are loading up. Despite recent weakness, large holders are quietly stacking tokens while the crowd hesitates. Meanwhile, a key metric—MVRV—has dropped below 1, flashing an undervaluation signal. The chart shows promise, whale activity is heating up, and a bullish breakout may be around the corner. SHIB may have crashed, but the story isn’t over yet.
https://twitter.com/doubutunante/status/1939099332105675158?t=kKtxu_qvzMswL95hrjVA0A&s=19 Whale Buys Spark Bullish Signals
SHIB trades around $0.0000115, just above this week’s low near $0.000010. That’s down 35% from May’s high and 65% from its November peak. The drop reflects a broader collapse across altcoins. Market cap for all coins, excluding Bitcoin, Ethereum, and stablecoins, has dropped from $947 billion to $583 billion since November. Internally, the Shiba Inu ecosystem faces big problems. Shibarium, once hyped, now struggles. Total value locked has dropped 20% in 30 days, falling to $2.58 million. Most dApps—ShibaSwap, WoofSwap, ChewySwap—lost major liquidity. Compared to newer chains like Sui and Sei, Shibarium now feels outdated.
Still, something is shifting. According to Santiment, wallets holding between 1 million and 10 million SHIB tokens added 30 billion more. Their total holdings jumped to 2.03 trillion tokens this month. That’s no small bet—it’s a whale-sized signal. Also, SHIB now looks cheap. The MVRV ratio fell below 1, meaning the token trades below its realized value. Historically, this level has marked attractive entry points. When prices dip below cost basis, smart money often takes notice.
Technical Patterns Point to a Rebound
The daily chart shows a double-bottom pattern forming. SHIB found support at $0.00000997, the lowest since April. It then rebounded to $0.00001135. This pattern points to a potential breakout if bulls push past $0.00001755. That neckline marks the bullish target. A breakout above it would confirm a 55% move from here.
The Relative Strength Index has risen from 28 to 40—still low, but no longer screaming oversold. However, failure to hold $0.0000099 would break the pattern and could send SHIB lower. That support level is the last lifeline for bulls in the short term. Despite ecosystem setbacks and technical weakness, whales still believe.
With MVRV flashing undervalued and RSI rebounding, the stage looks set. But the price must react soon. For now, the market watches, waiting for either a spark or a slide. SHIB sits on the edge. Will it bounce back with force—or fall deeper into the shadows?
