Are Whales Betting Big on a SHIB Rebound? 874 Billion Tokens Just Bought

As meme coins like Shiba Inu (SHIB) have dropped sharply in the past few days, opportunistic buyers have started to seize the moment and take advantage of these lower prices to pile on their favorite tokens.

Recent data from IntoTheBlock indicated that SHIB whales just bought 874 billion tokens from April 2 to April 6 as the meme coin was dropping near a critical support area.

At a point when market sentiment is heavily depressed, this kind of move by “smart money” typically indicates that they expect the price to hit bottom in the near term.

Shiba Inu has gone down by 3.2% in the past 24 hours and has accumulated a 12% loss in the past week as President Donald Trump’s tariffs on key commercial allies spooked investors.

Market participants fear that this policy could result in higher inflation in the U.S. and could deter the Federal Reserve from making its planned interest rate cuts for the year.

Trading volumes have subsided a bit in the past 24 hours but market volatility is still quite high at a point when tariffs are already being enforced by customs officials in the U.S.

SHIB Could Drop by 20% if Bulls Fail to Recapture This Key Level

SHIB has been one of the most resilient meme coins this year as it has booked milder losses compared to other meme coins like Dogecoin (DOGE) and Pepe (PEPE).

Moving to the daily chart, we can see how SHIB broke below a key support at $0.0001082 yesterday and it is currently retesting that threshold during the Asian session this morning.

This bearish breakout results in a downside risk of nearly 21% for SHIB as the nearest support currently sits at $0.00000848.

A drop to this area would push SHIB to a yearly low and to its lowest level since January 2024, meaning that the token would have erased all of the gains it has seen in the past 2 years.

Momentum indicators are favoring a bearish short-term outlook as the Relative Strength Index (RSI) currently stands at 21% distance from the signal line, meaning that momentum has accelerated.

Moreover, the MACD’s histogram has posted four consecutive higher dark red bars, which also means that negative momentum has gained traction.

As whales take center stage during the sell-off, the best crypto presales of the year, like BTC Bull Token, are also attracting “smart money” as they offer significant upside to early buyers.

BTC Bull Token (BTCBULL) Gives Bitcoin Investors the Chance to Earn Passive Income

BTC Bull Token (BTCBULL) has introduced an innovative milestone-based rewards system that allows Bitcoin investors to earn money as the price recovers and makes new all-time highs this year.

Market conditions have not deterred investors from pouring money into this promising crypto presale. In less than three months, BTCBULL has raised $4.5 million.

The compensation mechanism is quite simple. Starting at $100,000, for every $25,000 that BTC adds to its price, a portion of BTCBULL’s circulating supply will be burned to foster scarcity, which should result in higher prices in the near term.

Meanwhile, for every $50,000 that BTC climbs above this level, BTCBULL holders will receive a direct airdrop.

To buy BTCBULL and earn passive income as Bitcoin recovers, head to the BTC Bull Token website and connect your wallet (e.g. Best Wallet).

You can either swap USDT or ETH for this token or use a bank card to make your investment.