Shiba Inu Faces Spike in Purchases After Reaching Fundamental Support

Despite unpleasant forecasts, $SHIB whales are still buying the token as it reaches another support zone

fell below the descending triangle chart pattern, which should have become a foundation for the price's rally up but ‌caused a further dropdown on the token.Shiba Inu's price performance after the all-time high was a complete disaster for any retail investor who held through until $0.00001, which also makes the profitability of the token for whales close to zero.

Whenever large investors face losses, they average down their position in order to break even when or if the assets retrace. The constant purchasing we see from whale addresses ‌is averaging down.While various traders and investors see Shiba Inu falling to"zero," whales might slowly take control over the ‌supply and then ease the selling pressure on the memetoken, which at some point was the main competitor of Dogecoin, which has also lost over 80% of its value since the ATH.

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