Shiba Inu is drawing heightened attention as large-scale whale activity spikes dramatically. According to IntoTheBlock, transactions valued between $1 million and $10 million have surged by 450 percent in the last 90 days.
This dramatic rise in high-value deals signals tension in SHIB’s market structure. Although whale purchases typically precede a change in the cryptocurrency’s price, the market is weakly supported by volumes, causing investors to worry.
Recently, SHIB crossed above its 200-day Exponential Moving Average mark, essential to many technical traders. Nevertheless, after experiencing a rise, the asset’s price has stopped, standing just under the level at which it has been challenged.
At its current price level of $0.000015, SHIB is crossing a critical point. If it falls below this level, the price could move down to $0.00001420 or even $0.00001310 in the coming period.
At the same time, the Relative Strength Index has started to fall as it reached the overbought range. The fall in price shows traders are less eager to buy, and if the volume doesn’t increase, a return to the downsides could happen.
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Whale Accumulation Could Trigger Breakout or Breakdown
Historically, similar periods of whale accumulation have preceded intense price action. Whether upward or downward, outcomes typically depend on accompanying sentiment and retail engagement.
Market watchers are now observing if SHIB can build sustained volume alongside this accumulation. If wider acceptance doesn’t take place, the rally may end and convert into a period of declining prices.
Many traders are watching to see whether Bitcoin will break past $0.000015. When we see price action close above the level for several consecutive sessions and with an increase in trading volume, it could trigger a new surge and aim at the $0.000018 to $0.000020 price range.
Shiba Inu faces a serious risk as big investors are taking more active steps. Since whale action is highest in 90 days and the price is touching an important mark, SHIB’s direction may change significantly depending on what the market does.
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