Shiba Inu Edges Higher on Whale Accumulation and Exchange Outflows

Shiba Inu (SHIB) rose by nearly 2% on Monday to trade around $0.00000471, boosted by renewed whale accumulation and declining exchange reserves.

The move comes after a turbulent July that saw SHIB swing between $0.0000041 and $0.0000058 before settling into a higher consolidation range between roughly $0.0000046 and $0.0000048.

Buyers have since managed to defend the $0.00000462 support area, forming what some chart watchers describe as the early structure of a potential double-bottom pattern.