- Whale transfers fuel Shiba Inu surge as 10 trillion move.
- SHIB struggles at resistance despite massive whale-driven token flows.
- Rising volume sparks caution as whales dominate Shiba Inu moves.
Shiba Inu’s blockchain recorded an extraordinary surge in activity after more than 10 trillion tokens were transferred in a single day. Etherscan shows that total transactions remained relatively constant at about 5,400, indicating that it was not retail trading that drove the surge but instead whale-sized transfers.
The unexpected increase in activity has attracted the market’s attention to SHIB’s position, which is still trading around the level of $0.00001300. Its price is trapped in a convergent triangle pattern, which has kept any breakout decisive despite the increased activity.
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Whale-Driven Activity Meets Stiff Technical Barriers
Technical indicators show Shiba Inu struggling against multiple layers of resistance. The 26 EMA is hard to hold, and the 50 EMA has acted as a reliable rejection zone to buyers.
Above these levels, the 100 EMA imposes further pressure, with the falling trendline strengthening the ceiling. The strongest resistance comes in the form of the 200 EMA, which is hovering near the $0.00001420 mark and has thwarted all bullish attempts since the beginning of this year.
Also, volume has been increasing in the charts on a daily basis, but analysts caution about the increase in volume without movement in price, which may point to distribution instead of accumulation. This process makes traders wary despite the increasing whale activity.
SHIB Price Outlook Under Whale Influence
The relative strength index is still neutral, leaving room for price action in either direction. If whales keep the momentum going and bulls break resistance, the major upside targets would be $0.00001350 and $0.00001420.
A breakout above these levels would significantly change market sentiment and may provide Shiba Inu with a better foundation. However, the inability to overcome the resistance cluster can cause the asset to be consolidated under the control of the whales.
Whale transfers have jolted Shiba Inu’s network, but technical challenges remain firmly in place. How SHIB handles the pressure will determine whether this wave of whale-driven activity translates into sustained price gains.
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