Shiba Inu Whales Gobble Up 10 Trillion SHIB as Prices Teeter on Edge of Descending Triangle
SHIB's big players just made a seismic move—snagging 10 trillion tokens in a single swoop. Meanwhile, the charts paint a precarious picture: a classic descending triangle pattern that could spell trouble for retail bag-holders.
Will the whales pump it or dump it? The meme coin's fate hangs in the balance.
Pro tip: When the 'smart money' buys this aggressively, someone's about to get rekt—and it's probably not the guys with nine-figure portfolios.
Key AI insights
- Higher lows formed a subtle uptrend channel, suggesting accumulation at support levels and potential for continued upside momentum if $0.00001175 resistance is cleared.
- During the 60 minutes from 25 June 07:06 to 08:05, SHIB climbed from $0.00001169 to $0.00001171, representing a 0.2% gain.
- A significant price surge occurred between 07:25-07:27, with volume peaking at 12.36 billion SHIB as prices reached the session high of $0.00001175.
- Price action formed an ascending channel with higher lows, though a sharp correction at 08:03 tested the $0.00001171 support level, suggesting consolidation after the earlier rally.
Hourly chart
SHIB's recovery has stalled since Tuesday, with prices trading in what appears to be a descending triangle, characterized by a falling trendline and a horizontal support line.
A price move through the descending trendline WOULD signal a continuation of the recovery rally, exposing the June 16 resistance above $0.00001230. Conversely, a breakdown of the triangle would signal a bearish reversal lower.
