Shiba Inu is currently showing signs of bullishness propelled by a surge in large-holder inflows of 643% over the last 30 days. A broader confidence in SHIB’s short- to midterm trajectory is demonstrated by this massive capital movement, which indicates renewed interest from whales.
The inflows appear to be dispersed throughout the market rather than being a coordinated pump by a single party. Technically speaking, SHIB is testing resistance levels at $0.0001400 while riding above important moving averages. The more psychologically significant $0.00001600 zone, which corresponds with the 200 EMA, a crucial trend indicator that hasn’t been challenged since its corrective downtrend started earlier this year, could be reached with a sustained break above this barrier.
A close above that line might cause sentiment to shift sharply in favor of bullishness and possibly spark a larger breakout. At the moment, the RSI is close to 70, indicating that the market is almost overbought. Notably, such RSI levels are also typical during strong uptrends, particularly when supported by on-chain inflow surges like the ones we are currently seeing even though this typically indicates a potential pullback. At the same time, the net outflows from large holders are also slowing down, having decreased by more than 42% over the past seven days.
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This divergence, inflows increasing and outflows decreasing, indicates accumulation as opposed to distribution, supporting the notion that the current move is more than a one-time event. With momentum above $0.000013 and $0.000014 as support, SHIB will be in a strong position to run toward $0.000016 and beyond. Failure to maintain that level, though, could result in a swift decline back to the next significant support at $0.00001275.
In summary, the stars are aligning for a possible explosive move as whales pile in and SHIB pushes against key resistance while technical confirmation builds. However, traders should keep an eye out for volume confirmations and be prepared for abrupt reversals in the event that sentiment changes as volatility always works both ways.