Shiba Inu ($SHIB ), one of the prominent memecoins, has decreased by 13% over the past 7 days amid a wave of profit-taking and bearish market sentiment. However, while many traders are fleeing, whales are taking the opportunity to 'scoop up the goods'.

Whales are quietly accumulating SHIB, retail follows suit.

SHIB has been steadily declining since July 28 after breaking a bullish pattern. However, on-chain data from Nansen shows that wallets holding over 1 million USD worth of SHIB have quietly purchased more, increasing their accumulation by 4% in just one week.

The actions of whales seem to have inspired smaller holders. Data from IntoTheBlock shows that the number of short-term investors holding SHIB for longer has slightly increased – a sign that confidence is returning.

Beware of "false breakouts"

SHIB is currently around $0.00001246. If buying pressure continues, the price may target resistance at $0.00001362. Conversely, strong selling pressure could pull the price back to $0.00001160.

This is not investment advice. If you plan to 'scoop up SHIB', remember to save some money... for gas and coffee too! ☕💸

#ShibaInu #CryptoTrends #MemecoinMadness #WhaleMoves #SHIBARMY