ShibArmy nowadays appears to be pretty passive as the SHIB price is lagging the required momentum. The SHIB price gets rejected at $0.000025 after attempting pretty hard to hold these key levels. Yet the current buying volume appears to be in favour of the asset. And hence a quick rebound may be fast approaching. Therefore the possibility of the asset surging high slicing through the descending parallel channel appears to be imminent.
As mentioned, the recent attempt of the SHIB price to breach through the parallel channel failed. Yet the asset is still hovering close to the upper bands of the channels. And hence following a short accumulation of strength at these levels, a strong breakout appears imminent. In the worst cases, if the bears dominate, then a slight pullback towards the middle ranges may occur. Else the probabilities of the asset ranging high to test the upper resistance at $0.00002745 remain high.
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Yet, on the other hand, the SHIB accumulations are undergoing at a larger pace as more whales are accumulating the asset. In a recent update, the largest ETH whale has bought nearly 49 billion Shiba INU. According to WhaleStats, the ETH whale ranked Number 1 has bought SHIB worth more than a million.
The SHIB tokens with the largest accumulation happening over time have become one of the top 10 tokens purchased by the 1000 biggest ETH Whales. In another bullish development, over 40 million SHIB tokens have been burnt in just 4 transactions in the past 24 hours. The SHIB price has raised by nearly 3% at the press time standing at $0.00002456.
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