- Shiba Inu whales continue to hold their positions which demonstrates their trust in the looming prospects for the asset.
- The expansion of the Shibarium network shows the potential to boost the demand for SHIB tokens.
- The technical patterns show SHIB has a potential 80% price rebound after the pattern created a falling wedge which implies an upcoming bullish trend.
Shiba Inu (SHIB) has faced a notable price crash in recent months. Despite the downturn, there are signals suggesting that an 80% recovery could be possible by February. Key factors including the behavior of Shiba Inu whales, the progress of its Shibarium network, and certain technical patterns in the market are fueling hopes for a potential price rebound.
Whale Activity: Holding Firm Despite Market Volatility
One important factor to consider is the behavior of Shiba Inu whales. These large holders have not yet dumped their tokens, even during the recent price decline. This indicates a degree of confidence in Shiba Inu’s long-term potential. A recent whale was observed holding 477.5B $SHIB amounting to ($8.57M). The continued holding of tokens suggests that many investors still believe in Shiba Inu’s future success.
The Role of Shibarium in Price Recovery
Positive advancements have occurred in the Shibarium network which functions as a layer-2 solution to improve both transaction speed and scalability. Shibarium network success alongside increased user numbers creates conditions for SHIB price appreciation. The rising adoption of Shibarium can create additional market demand for Shiba Inu tokens which will support the upward trajectory of its price. SHIB could start its recovery thanks to the ongoing success of Shibarium network operations.
Technical Indicators: A Falling Wedge Pattern Forms
On the technical side, Shiba Inu has been showing a falling wedge pattern, which is often interpreted as a bullish signal by traders. This pattern typically precedes a price breakout to the upside. As SHIB’s price approaches the confluence level of this wedge, it suggests a possible reversal in price direction. The combination of this chart formation with oversold conditions increases the likelihood of a significant price move upward shortly.
Shiba Inu’s recent market movements create concerns while positive whale activity and success of Shibarium beta alongside technical market trends form an optimistic outlook for the token. The market prediction indicates an 80% recovery is possible for February but investors need to watch both crypto market trends and conditions closely.
