Crypto whales buy 874 billion SHIB as Shiba Inu price plunges to lowest in 13 months
- Shiba Inu price hit a new 13-month low on Monday, plunging below $0.00001 for the first time since February 2024.
- Whale investors acquired 874 billion SHIB tokens since Trump’s latest trade tariff announcement.
- Bulls look poised for an intraday rebound as SHIB sits above the volume weighted average price point at $0.000014.
Shiba Inu (SHIB), one of the most talked-about meme coins in the cryptocurrency space, took a sharp nosedive on Monday, plunging below the $0.00001 threshold for the first time since February 2024.
Despite this decline, whale investors have seized the opportunity to accumulate a staggering 874 billion SHIB tokens, signaling strategic optimism amid broader market turbulence.
Shiba Inu hits 13-month low after breaking key support
The price of Shiba Inu fell to as low as $0.0000098 on Monday, its lowest point in over a year, reflecting growing unease in the broader crypto market.
The downturn marks a significant moment for SHIB, which has seen relatively stable price action through early 2025, but finally broke key psychological support after a weekend of low trading volumes and negative sentiment.
Market analysts attribute the dip to multiple macroeconomic triggers, escalating trade tensions following the former U.S. President Donald Trump's announcement of new tariffs on Chinese imports last Wednesday.
After Trump ruled out a diplomatic resolution, SHIB price plunged toward $0.000010 on Monday, its lowest in 13 months dating back to February 24.
However, SHIB price promptly rebounded 4% to reclaim $0.000014 sitting above the Volume Weighted Price for the day. This signals that after an initial sell-off, SHIB attracted a cluster of buy orders as the trading day progressed.
Whale investors acquire 874 Billion SHIB amid the dip
Interestingly, large-scale investors—commonly referred to as crypto whales—have taken advantage of the ongoing dip. On-chain data trends show whales have made more SHIB purchases than sell-offs in the last four days of trading.
IntoTheBlock Large Holder Netflow tracks the daily net change in balances of wallets holding at least 0.1% of the total SHIB token supply.
This provides real-time insights on the aggregate trading activity from the largest whale investors within the Shiba Inu markets.
The SHIB Large Holder netflow chart reveals that the aforementioned wallets collectively purchased over 874 billion tokens between April 2 to April 6.
Shiba Inu Large Holder Netflow | Source: IntoTheBlock
Notably, this accumulation started just hours after Trump’s announced sweeping tariff at the Liberation day speech on April 2, indicating that whales may view geopolitical unrest as a buying opportunity.
Considering that large investors often opt for sophisticated cold storage options, a persistent whale buying trend suggests that SHIB’s short-term supply on exchange-hosted wallets could be thinning out.
This may explain why SHIB price rebounded early to break above the VWAP, on Monday, after initially plunging to a 13-day low
At current prices the 874 billion SHIB whale purchase is valued at approximately $10.4 million. While it's unclear whether the motive is speculative or based on fundamentals like Shibarium development, the move has sparked renewed interest in SHIB across crypto communities.
Shiba Inu price forecast: Is $0.000010 the local bottom or weakened support?
Shiba Inu price action suggests a fragile recovery, but key indicators hint this bounce may be more relief than reversal. SHIB recently tested the $0.000010 zone, rebounding marginally above it, closing at $0.0000115 on Monday. This zone aligns with a short-term support tested twice in April, hinting at a local bottom—but not yet a confirmed one.
The Chande Kroll Stop, marked in blue, has flipped below current price, suggesting minimal short-term selling pressure. However, the resistance ceiling at $0.000015 looms, and the failure to reclaim this level could confirm the next downtrend.
SHIB Price Forecast
Furthermore, the Relative Strength Index (RSI) hints at more downside risk. With RSI at trending 37.63 on Monday the weak divergence with price also suggests bulls are lacking follow-through.
Volume analysis shows declining conviction even as price attempts recovery, weakening the bounce thesis.
Unless SHIB reclaims $0.000042 with volume and closes above the Kroll stop, bulls risk a breakdown below the $0.000010 zone.
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