After the decline in SHIB prices, large investors made significant purchases. Technical indicators are signaling a possible recovery. While short-term fluctuations continue, the increase in trading volume is noteworthy.

Shiba Inu (SHIB) has started showing signs of recovery after losing about 27% in value in recent weeks. After falling to $0.00001005, the lowest level in 16 months, large investors became interested. These investors purchased 10.4 trillion SHIB tokens with an expenditure of approximately $110 million. This move triggered a temporary rise in prices while technical analyses also indicate a potential trend change. An increase of 11% has been observed in the last seven days.

The sharp decline in SHIB prices was seen as a significant buying opportunity for large investors. According to CoinDesk data, 'whales' made a massive purchase of 10.4 trillion SHIB, which had a value of approximately $110 million.

These large purchases created immediate activity in the SHIB market. While significant increases in prices were observed, the entry of investors led to a substantial rise in trading volume. The volume figures in recent days clearly demonstrate this increase.

Especially in the 24-hour period covering June 29, the SHIB price fluctuated by 4.3% and traded in the range of $0.00001147 to $0.00001198. The most significant movement occurred between 21:00 and 22:00 on the same day. During this time, the trading volume increased to 5.8 times the average, paving the way for the price to attempt to exit the consolidation zone.

What Do Technical Indicators Indicate?

The 'nested weekly candle' formation formed in the SHIB price chart draws analysts' attention. This formation occurs when a week's price movement remains within the previous week's trading range and is generally considered a signal of uncertainty and indecision in the markets.

However, the emergence of this formation after a prolonged decline brings a different interpretation. Experts state that this situation may indicate a decrease in the sellers' strength and potentially mark the beginning of an upward trend. The 11% price increase over the last seven days also supports this optimistic view.

The technical data for the last 24 hours indicates that the market is in a delicate balance. The $0.00001198 level emerged as a resistance point with high-volume trades. After this level, profit-taking observed led to the price finding support around $0.00001160. SHIB closed the day at $0.00001164 with a slight increase of 1.4%. On an hourly basis, there were sudden drops and subsequent recovery attempts during the night. Large transactions exceeding 8 million USDT occurred in these movements, and it is believed that they were made by institutional investors. TradingView data confirms that resistance and support levels have become clearer and that the increase in volume continues.

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