Shiba Inu (SHIB) is drawing renewed attention after recent whale activity coincided with a significant technical signal. Large holders have accumulated over 10 trillion SHIB tokens worth around $110 million, fueling speculation of a potential price surge.
The timing of this accumulation aligns with a bullish crossover on the hourly chart. Between the 50-period and 200-period moving averages, a golden cross has occurred: the position of the 50-period average is above the 200-period average.
Traders normally observe such an arrangement keenly in search of an early indication of escalation. SHIB has rallied by 11 percent so far this week after suffering its lowest levels in more than one year.
Whale interest has intensified as SHIB approaches key support levels. It recently reached the $0.00001145 mark, which was supported by the price when it pulled back against the current price. Assuming that this support holds its ground, it might serve as a starting point for additional gains.
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Rising Volume and Resistance Test Mark Crucial Moment for SHIB
The asset is currently struggling to clear resistance between $0.00001180 and $0.00001185. A confirmed move above $0.00001190 may open the path toward the $0.00001220 area, which traders are closely monitoring.
On-chain information indicates that the trade volume has increased significantly, which can be considered evidence of the increased market involvement. Such activity is essential, as tokens such as SHIB tend to rely on speculative and retail dynamism to acquire momentum.
A post by @radobig5 on X indicates that Shiba Inu is recording recovery after experiencing a 16-month low, with whales buying 10.4 trillion SHIB tokens worth $110 million. The update also pointed to the SHIB 11 percent rally and high-volume surge to a value of 0.00001198, followed by a slight decline of 0.3 percent.
Although the headline breakout is still to take place entirely, the technical indicators and their whale support are improving the prospects of SHIB. Traders are being watchful and cautious at the same time since the meme token may reveal initial signs of a potential rally.
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