SHIB Price Prediction: $2M Liquidation Shakes Bulls, But Whales Eye $0.00001752
SHIB rebounds from key support after $2M long liquidation. Whale activity surges—can bulls target $0.00001752 as meme coin sentiment...
Quick overview
- SHIB experienced a significant correction after a $2 million liquidation of long positions, dropping from the $0.00001573 resistance level.
- The meme coin sector saw a 2% decline, indicating retail investors are currently risk averse.
- On-chain data reveals a surge in whale transactions, suggesting institutional accumulation and potential for a price bounce.
- Technically, SHIB is testing support levels and showing early signs of bullish momentum, with key price levels to watch for potential breakout.
SHIB saw a big correction last week after a $2 million liquidation of long positions according to Coinglass. This liquidation wiped out the bullish leverage and sent SHIB from the $0.00001573 resistance level.
It wasn’t just SHIB – CoinGecko reported a 2% drop across the entire meme coin sector during the same period. Retail is risk averse.
But beneath the surface the fundamentals are changing. On-chain data from Santiment shows whale transactions of $1 million or more in SHIB almost doubled between May 8th and May 15th.
Historically these large volume transfers have preceded big rallies like the November 2024 surge to $0.000033.
This is institutional accumulation and it looks like the dip could be a shakeout before the bounce.
SHIB Tests 50 EMA as Bulls Reclaim Momentum
From a technical standpoint SHIB is trying to recover after bouncing off the $0.00001382 support – just above the 50 day EMA at $0.00001414.
The price is still in a rising channel on the daily chart and recent candles are showing shrinking wicks and expanding bodies – early signs of bullish pressure.
The MACD histogram is flattening and the signal lines are curling up – downward momentum is losing steam.
But a daily close above $0.00001480 – preferably with a bullish engulfing candle – would confirm and open the way to $0.00001573 and then $0.00001752.
Shiba Inu Trade Setup and Key Levels to Watch
Bullish Scenario:
- Entry: Above $0.00001480 (confirmed breakout)
- Targets: $0.00001573 and $0.00001752
- Stop-loss: Below $0.00001382
Bearish Scenario:
- Break below $0.00001382 and we could see more downside to $0.00001231
For newbies: imagine the 50 EMA as a trampoline. If SHIB bounces off it with force we might see a big move up the channel. But if it breaks down we’re back in bear territory.
Whales are active and SHIB is at support. Waiting for volume.
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