Key Takeaways
Shiba Inu (SHIB) price rose 2% to $0.00001312, testing the 200-day simple moving average (SMA) at $0.00001300.
Trading volume surged to 943.1 billion SHIB, signaling possible institutional participation.
Dogecoin (DOGE) whales increased their holdings to 10.91 billion DOGE, a four-year high, amid speculation over a potential U.S. DOGE ETF.
Shiba Inu Eyes Breakout Above 200-Day SMA
Shiba Inu is attempting to establish a sustained position above its 200-day SMA, a widely followed indicator of long-term momentum. SHIB climbed from $0.00001287 to $0.00001312, a 2% gain in 24 hours, with strong support forming near $0.00001270.
While bulls failed twice in recent weeks to secure a breakout, the latest push is supported by a surge in trading activity. According to CoinDesk’s AI market insights model, SHIB volumes jumped to 943.1 billion tokens, suggesting institutional capital inflows and strengthening the breakout case.
Technical Signals Show Bullish Momentum
Support: $0.00001270
Resistance: $0.00001300, with a session high of $0.00001316
Burn rate: Up 1,682%, with 1.3 million SHIB destroyed in 24 hours
Shibarium activity: Over 1.2 million daily transactions, reflecting renewed network demand
Derivatives markets also show growing institutional engagement, with open interest in SHIB futures climbing 4%.
Dogecoin Whales Accumulate Ahead of ETF Speculation
Meanwhile, Dogecoin (DOGE) has rallied more than 10% in one week, trading at $0.2415, fueled by speculation that a spot DOGE ETF could gain U.S. approval.
On-chain data from Santiment shows wallets holding 1M–10M DOGE added aggressively after late-August weakness, boosting their combined stash to 10.91 billion DOGE — the highest level in nearly four years, representing 7.23% of the supply.
This whale accumulation signals growing confidence that a DOGE ETF could provide fresh institutional demand for the world’s largest memecoin by market value.
Market Outlook
If SHIB secures a clean break above the 200-day SMA, momentum could shift firmly bullish with eyes on higher resistance levels. DOGE, meanwhile, remains tied to regulatory catalysts, with whale behavior suggesting traders are positioning for a potential ETF-driven rally, according to coiunDesk.
