Shiba Inu Price Surges 12% as Whale Demand Hits 3-Month Peak of 1.5 Trillion

Shiba Inu Price Analysis:

Shiba Inu price hit the $0.000014 mark on Sept 10, up 12% in the last 4-days. On-chain analysis shows how whale investors capitalizing on last week’s market dip may have triggered the bullish reversal.

Shiba Inu Surges 12% on Rate Cut Expectations

The global crypto markets experienced a sluggish start to September. Intense market volatility triggered by uncertain macroeconomic landscape led to over $100 billion in market capitalization wiped out within a week.

However, following dovish US NFP report released on Sept 6, crypto traders have started made strategic moves to front-run the bullish impact of a potential Fed rate cut during the next FOMC meeting slated for Sept 17.

Notably, Shiba Inu price action in the last 4-days suggests the world largest memecoin is outpacing the rest of the altcoin market.

Shiba Inu price has recorded 3 consecutive days in profit since Sept 6. The green-shaded box in the chart above shows how, SHIB increased by nearly 12% from $0.00001 on Sept 6 to hit the $0.000014 level at the time of writing on Sept 10. Consequently, SHIB outpaced Dogecoin (DOGE)

Meanwhile the blue-shaded area on the TOTAL3 chart shows that the global altcoin market capitalization has only grown by 9% with the same period.

Essentially, this indicates that, since the positive NFP report released on Friday Sept 9, the SHIB token has experienced slightly higher demand relative to the rest of the market.

Crypto Whales’ Demand for SHIB Hit 3-Month Peak of $22M

Crypto traders leaning bullish ahead the next FOMC meeting has triggered a 12% bounce in Shiba Inu price.

However, on-chain movements over the last 24-hours, shows rising demand for SHIB among whale investors, a move that could trigger another leg up.

IntoTheBlock’s Large Holder Netflow metric, measures whale demand by tracking balances of individual wallets holding at least 1% of the total SHIB supply in circulation.

The latest data reveals that SHIB largest whale investors added 1.56 trillion SHIB to their balances on September 9. Valued at the current prices, this fresh inflow, worth approximately $22 million, marks the highest single-day whale demand since July 18.

Typically, such a spike in whale inflows could influence short-traders to soften their stance, setting the stage for accelerated price upswings.

This partly explains why SHIB price gains raced ahead of the broader altcoin market average on Monday.

If this uptrend in whale demand persists, SHIB price could be on the verge of another breakout towards the $0.000020 level.

SHIB Price Prediction: Bulls Set to Flip $0.000015 Resistance

Currently, technical indicators show that Shiba Inu price faces major resistance at the $0.000015 area. However, with whale demand hitting a 3-month peak of $22 million on Sept 9, bears could struggle to avoid a SHIB price breakout towards the $0.000020 area in the weeks ahead.

Looking at the Shiba Inu price forecast chart above, the Bollinger Bands suggest tight consolidation, with upper resistance near $0.00001539 and lower support around $0.00001227. The Balance of Power indicator shows bearish momentum, but a reversal is possible given the increasing demand pressure.

Key support is at $0.00001300, while breaching the upper band at $0.00001539 could trigger a bullish breakout. In the short term, expect SHIB to test these critical resistance and support levels, with a bullish outlook toward $0.000020 if demand persists