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- Whales added over 1 trillion SHIB despite bearish momentum.
- Key support at $0.000011 could trigger a bullish reversal.
- Liquidity clusters suggest a potential breakout opportunity.
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Shiba Inu (SHIB), one of the most popular meme coins, has been unable to spark a bullish rally in recent weeks. Much like other meme coins and altcoins, SHIB has struggled to gain momentum throughout August. Despite this, large holders—known as whales—are quietly accumulating trillions of tokens, signaling possible confidence in a future rebound.
Whales Load Up on SHIB Amid Bearish Market Structure
On-chain data from Santiment revealed that Shiba Inu’s largest whale cohort recently added a trillion SHIB tokens to their wallets. This accumulation comes at a time when the broader market remains bearish, and SHIB’s 12-hour chart reflects ongoing range-bound movement.
Since February, SHIB has been trading within a tight purple-shaded range between $0.00001 and $0.000016, with a midpoint near $0.000013. Attempts to break out of this channel, such as the rally in May, have failed, leading to swift reversals. The Relative Strength Index (RSI) remains under neutral 50, suggesting limited bullish momentum.
Technical Indicators Signal Range Compression
In the short-term, SHIB’s 4-hour chart highlighted two key zones—support at $0.000012 and resistance at $0.000014. These levels form a smaller trading range where bulls and bears are in balance. The RSI hovered at 48.9, and the Accumulation/Distribution (A/D) indicator showed no decisive trend, reinforcing the idea that SHIB could consolidate before its next move.
However, analysts point to the $0.000011–$0.0000115 range as a potential springboard. A liquidity sweep at this level could provide buyers with an attractive entry, triggering a short-term recovery.
Also Read: Shiba Inu Whales Accumulate 1 Trillion SHIB as $0.000015 Resistance Holds
Liquidation Heatmap Suggests Breakout Opportunity
Data from CoinGlass supports this view, showing that liquidity clusters exist around the $0.0000118 zone, making it a “magnetic” area for price action. If SHIB dips into this liquidity pocket, it could trigger a bullish reversal and reset momentum toward resistance levels.
While Shiba Inu’s price remains stuck in a range, whale accumulation and liquidity positioning suggest that a bullish recovery could be on the horizon. If SHIB sweeps lower support levels, traders may find a fresh buying opportunity, with upside potential targeting mid-range resistance.
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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 a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
