While SHIB remains largely unchanged after the recent crypto market turmoil, a mysterious wallet linked to the address '0xB7e09' has withdrawn nearly 151.61 billion SHIB from Coinbase, valued at approximately $2.41 million. This significant accumulation has sparked speculation about a bullish reversal, but technical indicators suggest continued caution.
SHIB ’s technicals showed fragile momentum, indicating caution amid growing market intereststuck in a tight range despite the recent chaos.
Is this the quiet before a storm, or is there something more lurking beneath the surface of this memecoin’s muted price action?Recent data reveals an intriguing development. Over the past five days, an unknown wallet, linked to the address “0xB7e09,” has withdrawn nearly 151.61 billion SHIB from Coinbase.
Every transaction has been initiated from Coinbase’s address, suggesting the funds might be tied to the exchange itself. If this is the case, the activity could simply reflect routine internal operations. However, the RSI sat at 39.96, indicating that the asset is still in bearish territory but moving away from oversold conditions.The OBV remains subdued despite recent price movements, suggesting a lack of strong accumulation. SHIB’s key resistance lies near $0.00001750, a level that needs to be breached for any sustained recovery.
SHIB Whale Accumulation Bullish Reversal Coinbase Technical Analysis
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