Shiba Inu (SHIB) is currently experiencing growing tension on the market. Recent on-chain data reveals a dramatic surge in activity among large investors, commonly referred to as “whales.” According to charts from IntoTheBlock, the number of transactions between $1 million and $10 million has skyrocketed by 450% over the past 90 days.
Such aggressive whale accumulation often precedes significant price movements — either upward or downward — depending on overall market sentiment and trading volume.
🔍 SHIB Approaching a Critical Juncture
From a technical perspective, SHIB is trading just below a key resistance level at $0.000016, a threshold that has historically been tough to break. While SHIB recently broke above the 200-day EMA, it has struggled to maintain momentum. The token is currently hovering around $0.000015.
📉 If SHIB fails to hold this level, a drop could follow — with potential support levels at $0.00001420 or even $0.00001310.
🧠 Whale Buying: Sign of Confidence or Just Noise?
The big question is whether this spike in activity reflects:
🔹 Genuine retail interest,
🔹 Or merely speculative positioning that lacks consistent volume.
If SHIB manages to close several consecutive sessions above the 200-day EMA with increasing volume, it could regain bullish momentum and head toward the $0.000018 to $0.000020 range.
⚠ Overheated Rally, RSI Cooling Off
However, the rally is starting to lose steam. The Relative Strength Index (RSI) is falling from overbought territory — often a signal that a price trend may be nearing exhaustion. SHIB's momentum appears to be weakening, and instead of a breakout, we could be witnessing the formation of a local top.
📌 Final Take: Watch the $0.000015 Support Closely
No matter the direction, SHIB is now at a make-or-break moment.
🔹 A 450% increase in whale transactions seems bullish,
🔹 But without solid volume and broader market conviction, it may quickly transition into a distribution phase, where large holders slowly offload their positions.
🧭 All eyes should be on the $0.000015 level. Whether SHIB bounces or breaks here could define its short-term trajectory.
#Shibarium , #SHIB , #memecoin , #CryptoWhale , #CryptoMarket
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