The Shiba Inu (SHIB) community has always rallied during crucial moments. Recently, SHIB whales have stepped up once again. Despite the meme coin’s good performance in the past weeks, it remains trapped in an extended consolidation phase. However, large holders are now actively intervening, suggesting a potential reversal.

Whales Accumulate SHIB Amid Consolidation

Whales have been strategically buying SHIB as the coin continues trading at lower levels. On September 23, these large holders withdrew over 621 billion SHIB tokens from various crypto exchanges, according to CryptoQuant data. This massive transfer, valued at around $9.11 million based on SHIB’s current price, marks one of the largest exchange outflows in the last two weeks. These withdrawals indicate strong confidence among whales that the token could soon enter a favorable price phase.

The Buying Opportunity

The ongoing sideways movement presents an attractive buying opportunity for both whales and smaller investors. Historically, SHIB’s price tends to rise following significant exchange outflows. The whales’ decision to buy the dip is not without reason, as they anticipate a trend reversal in the near term.

Potential Price Impact

While the whales’ accumulation signals potential gains, a massive rally may not be guaranteed. SHIB’s price will depend on other market dynamics, including overall market sentiment and broader cryptocurrency trends. As of now, SHIB is trading at $0.0000147, a slight increase of 0.95% in the last 24 hours. Additionally, the token has gained 10.26% over the last seven days, boosted by a broader market recovery.

What’s Next for SHIB?

With whale activity ramping up, SHIB could soon aim for new price highs. While it’s uncertain whether a significant rally will follow, the current trend points toward gradual gains. The community, as always, is hopeful for a sustained increase in value, especially with such strong whale support.

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In conclusion, as large holders accumulate SHIB and remove it from exchanges, the market could soon witness price action, albeit with some caution.