Despite a 60% pullback from recent highs, Shiba Inu ( $SHIB ) demonstrates underlying strength as on-chain data reveals continued whale accumulation rather than distribution. The meme coin currently trades around $0.0000134, navigating between technical support and resistance levels while showing signs of consolidation.
Key Technical Observations:
- Price maintains position above the 200-day moving average
- Faces resistance at the 100-day moving average
- RSI at 56 suggests neutral momentum, neither overbought nor oversold
Whale Activity Signals Confidence:
- Large holder inflows surged 24.14% over 90 days, with 8.78% growth in the past week
- Whale outflows dropped 62.6% monthly and 48% weekly
- Wallets holding $100K-$10M in SHIB grew 6.45%-16.2%, indicating strategic positioning
Market Implications:
The redistribution of tokens toward long-term holders and reduced selling pressure suggests the asset may be entering a stabilization phase. For bullish confirmation, SHIB needs to:
1) Sustain support near $0.0000128
2) Break and hold above $0.0000146 resistance
3) Show increased trading volume
While short-term price action remains subdued, whale accumulation patterns and improving market structure indicate SHIB may be preparing for its next upward move. The meme coin continues to demonstrate staying power beyond typical speculative cycles.
