The on-chain data suggests that large Shiba Inu whales are buying the dip in the cryptocurrency, even as it tests critical support levels. Shiba Inu recently experienced a significant drop but quickly rebounded. Despite being affected by the ongoing market collapse, large whales have shown confidence by buying substantial amounts of Shiba Inu since December 10. Data shows that these whales had a net inflow of 799.32 billion SHIB tokens worth over $17.5 million. Throughout Q4 2024, net inflows to these addresses have been significantly higher than outflows. Additionally, data from CryptoQuant indicates a decline in Shiba Inu exchange reserves, suggesting an accumulation spree by whales. Shiba Inu is currently looking to defend a breakout above a symmetrical triangle and trading at $0.00002233 at the moment.



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