Shiba Inu's price got a lifeline from the $0.000020 level on January 11 as the broader crypto market faced a steep correction of 15% during the week. However, on-chain analysis reveals that large investors are seizing the opportunity to "buy the dip," purchasing a staggering 34 trillion SHIB. Could this signal a significant bullish shift for the dog-themed meme coin?
The selling pressure on Shiba Inu appears to be easing, allowing its price to stabilize at the critical support level. Whales, who hold large quantities of crypto, are taking strategic positions in anticipation of a potential price surge. Such moves often precede a rally, suggesting that investor confidence in SHIB is gaining momentum once again.