Shiba Inu (SHIB) is one of the most popular project of 2021. After the accumulation phase, it rose by about 1000%! Now the token has dropped by 70% of its ATH and has been consolidating for about 2 months. Could this mean the beginning of a new growth phase?
Accumulation phase is the purchase of cryptocurrency by BIG players to sell higher to the retail investor.
There's not a lot of HYPE around this token right now. Retail traders who have lost 20-50% of their money are starting to sell out in a panic. At this time, the BIG players buy the available tokens from the market to sell higher to new traders who will come on the next HYPE. The same situation as it was in 2021!
It is important to say that if Bitcoin starts its drop, then altcoins will drop too.
Is this really the accumulation phase and we close to RENEW the ATH? We will only know after some time, but we already see the signs of accumulation phase on the chart.
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.