Shiba Inu Gains Ground Amid $36M Whale Movement; Continues in Bearish Trend

SHIB outperformed BTC following a sizable whale transaction.

Shiba Inu (SHIB) has shown a recovery of 3% from its overnight lows, even though it still trails behind Bitcoin (BTC) following a notable whale transaction of 2.87 trillion SHIB valued at $36 million. Initially, this large transaction raised concerns in the market but was later clarified as market maker custody rather than a liquidating sell-off.

Despite this recent uptick, SHIB remains approximately 10% lower compared to its performance within the week and continues trading within a downward trend.

Key Points:

• Shiba Inu’s recovery amidst a significant whale transaction.
• Whales shifting assets to custody instead of selling-off.
• Market pressures still afflict SHIB as it navigates a bearish market channel.

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