Shiba Inu Bounces from Support as Whales Show Renewed Buying Interest
Shiba Inu (SHIB) has shown fresh signs of strength after weeks of selling pressure. The token has bounced from a critical support zone near $0.00000462, which marks the 78.6% Fibonacci retracement of its recent price move. This level stretches from $0.00000670 down to $0.00000405.
Large holders, or whales, appear to be increasing their exposure to SHIB again, with Santiment data showing a modest increase in accumulation. Top non-exchange addresses held 533.41 trillion SHIB on Sunday, up from 533.10 trillion earlier last week.
The recovery remains tentative, but buyers have gained a technical advantage. Derivatives traders continue building positions as Open Interest rises, with CoinGlass data showing a 4% increase in SHIB futures Open Interest to approximately $46.86 million within 24 hours.