Shiba Inu (SHIB) has captured renewed market attention after on-chain data revealed that 2.6 trillion SHIB tokens were transacted in a single day on June 11, 2025. This marks the largest spike in volume since early June, a development often linked to whale activity that could signal upcoming volatility.
Despite this dramatic surge, SHIB’s price remains under pressure. It is currently trading near $0.00001263 after failing to break through the 100-day and 200-day exponential moving averages. The 100-day EMA at $0.00001389 and the 200-day EMA at $0.00001550 continue to act as resistance. Each attempt to rally has been rejected at these levels.
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The transaction volume increase has not yet translated into bullish price movement. Instead, it has raised questions about whether whales are accumulating or redistributing their holdings. The absence of strong follow-through volume in the subsequent trading sessions has further complicated the outlook.
Key Support Zone Faces Heavy Pressure
SHIB continues to hover above a key support zone between $0.00001250 and $0.00001280. This area has held up since April and is widely seen as a psychological and technical floor. A breakdown below this zone could open the door for a sharp drop toward $0.00001100 if selling pressure increases and volume fades.
Source: Tradingview
IntoTheBlock data indicates that such high-volume whale moves often precede market swings. However, the current failure to reclaim major moving averages shows that buying strength is still limited. The short-term technical setup remains bearish, with the price trading below all major trend indicators.
SHIB’s Relative Strength Index (RSI) stands around 42, signaling that there may be room for a reversal if buyers step in. Yet the path forward will depend heavily on whether whales continue to buy or begin offloading. Retail sentiment and market-wide conditions will also influence the outcome.
SHIB is at a critical juncture as whale-driven volume spikes but price action stays muted. A break below the established support zone could trigger steeper losses, while sustained volume may offer a chance for a turnaround. Traders are closely watching for the next major move.
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