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- Whale accumulation spikes to 209.89B SHIB, signaling bullish confidence.
- Exchange supply drops, creating tighter market conditions.
- Technical charts suggest further upside if momentum continues.
Shiba Inu (SHIB) has staged a dramatic comeback, climbing over 53% from last Friday’s lows to reach $0.000010. The meme coin’s resurgence reflects strong bullish sentiment sweeping the crypto market, fueled by whale accumulation and technical indicators pointing toward further upside.
Whale Accumulation Sparks Rally
Data reveals that large SHIB holders have ramped up their positions significantly, rising from 33 billion tokens last month to a staggering 209.89 billion. This surge in whale activity indicates growing confidence among deep-pocketed investors who see the recent dip as a prime opportunity.
Simultaneously, exchange supply has dropped from 283 trillion to 275.72 trillion SHIB, hinting that holders are moving coins into cold storage in anticipation of higher prices. Combined, these factors create a perfect storm for a potential breakout.
Market Optimism Supports SHIB
Broader market trends have also played a role. Bitcoin’s consolidation above $115,000 has lifted the crypto market capitalization above $3.9 trillion. Additionally, hints of improving U.S.-China trade relations have fueled investor confidence in risk assets, benefiting high-beta tokens like Shiba Inu.
A proposed supply redenomination on ShibChain could further boost SHIB’s appeal. By reducing the number of coins while maintaining market cap, each token could become more valuable, attracting renewed attention from traders and investors.
Technical Picture Shows Upside Potential
Technically, SHIB’s daily chart presents encouraging signs. After dropping to $0.00000695 last Friday, it formed a hammer candlestick pattern—often a signal of seller exhaustion and a bullish reversal. The next resistance level to watch is $0.000013. A break above this mark could extend the rally, potentially revisiting May highs.
Also Read: Shiba Inu ($SHIB) Surges After Flash Crash: Key Support and Resistance Levels Explained
However, caution is warranted. The rebound might be a temporary recovery—a “dead-cat bounce”—unless volume and follow-through confirm sustained momentum. Traders are advised to monitor key levels closely.
Shiba Inu’s recent surge illustrates the power of whale accumulation, tighter supply, and broader market optimism. While technical indicators point to further upside, vigilance remains essential. SHIB has once again shown that in the world of meme coins, surprises are never far away.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
