đ Shiba Inu Price Surges as Whales Buy 530 Trillion SHIB â Breakout Imminent? đ
Shiba Inu (SHIB) price is teasing a breakout from a 4-year consolidation phase, fueled by whales accumulating 530 trillion tokens and an 11,000% surge in SHIB burn rate.
At $0.000015, SHIB is up 2% today, but data hints that this could be the start of a major rally, especially if Bitcoinâs rally cools.
Hereâs the latest Shiba Inu price forecast, key levels to watch, and why whales are betting big on this meme token.
In the last four years, SHIB price has been trading within a tight consolidation range between $0.000005 and $0.000096.
The meme coin entered this range in mid-2021 following a parabolic bull run stirred by a 400 trillion SHIB burn by Vitalik Buterin.
However, in the last year, Shiba Inu price has been showing signs of breaking out. In 2024, it broke resistance at $0.000014, and it is now attempting to convert this resistance into support.
Bullish Case: To successfully flip the market structure, the price needs to move above the higher moving average of $0.0000182.
If the price shifts above this MA and targets the next resistance at $0.000037, Shiba Inu will be on the path to breaking out of the four-year consolidation range and possibly create a fresh all-time high of $0.00025.
Bearish Case: Conversely, the marketâs attention is currently drawn towards Bitcoinâs all-time high, and as BTCâs dominance rises, it may impact Shiba Inu price moves.
This may prolong SHIBâs consolidation pattern, causing a drop to $0.0000055.
