Over the past month, Shiba Inu has recovered, pushing toward a critical technical resistance level and increasing by over 280% in whale-related activity. The market is still focused on SHIB despite the recent price decline, as major holders increase their participation in and out of the market. Recent data shows that SHIB's large holder inflow increased by 280% in the last 30 days, indicating a period of aggressive accumulation by major players.
This suggests that some of these whales may already be rotating out or halting new purchases at these levels as the seven-day change has fallen by 86%. Outflows have increased by 234.56% during the same seven-day period, which lends more credence to the theory that profit-taking may have started as the asset has gotten closer to crucial resistance.
The 200-day EMA (black line on the chart) is that resistance, and SHIB was unable to break above it with conviction. The asset's impressive midterm rally is cut short by this level, which still serves as a brick wall. An additional upward leg may be postponed unless volume returns, as the inability to maintain above this trend-defining indicator raises the possibility that momentum is stalling.
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Technically speaking, SHIB's price reached its highest point on May 12 at $0.000017 before heading back to its current levels at $0.000015. Volume has started to decrease after the spike that accompanied the initial breakout, and the RSI displays a slight bearish divergence. SHIB is currently in a precarious position. The door opens toward higher targets, most likely in the $0.000018–$0.000020 range, if bulls can push the price decisively above the 200 EMA while maintaining volume.
Otherwise there is a greater chance of a correction down to support at $0. 000014 or even $0. 000013. Whales, in other words, took action. The crucial question for Shiba Inu's next chapter is whether they are quietly leaving or preparing for another rally.
