Shiba Inu Eyes 200-Day SMA Breakout as DOGE Whales Amass 10 Billion Coins

Shiba Inu's momentum builds toward a critical technical threshold while Dogecoin's largest holders go on a buying spree that's shaking up the meme coin ecosystem.

WHALE WATCHING INTENSIFIES

Dogecoin's big players just scooped up another 10 billion tokens—because nothing says 'sound investment strategy' like following Elon Musk's tweets and canine-themed cryptocurrencies. The accumulation spree signals major players are positioning for what they clearly believe is the next leg up.

TECHNICAL BREAKOUT IN PLAY

Shiba Inu pushes against that pesky 200-day simple moving average, trying to turn resistance into support. Technical traders watch these levels like hawks—break above and the path clears for another run; fail and well, it's just another meme coin pretending to be a real asset.

MEME COINS GROW UP (KINDA)

While the 'serious' investors scoff at dog-themed tokens, these assets keep demonstrating real market influence. The 10 billion DOGE accumulation represents serious capital deployment—even if that capital is chasing a joke that got out of hand.

Market sentiment's shifting from pure speculation to—dare we say—calculated speculation. Because in crypto, that's what passes for maturity.

That said, the latest attempt may succeed as it is marked by a pick-up in trading volumes. According to CoinDesk's market insights AI model, as SHIB neared the 200-day SMA, volumes picked up to an extraordinary 943.1 billion tokens, suggesting institutional capital deployment and validating the optimistic breakout trajectory.

Key technical insights

• Prices appreciated from $0.00001287 to $0.00001312, representing a 2% gain across 24 hours.
• Substantial support was established near the $0.00001270 level, with consistent buyer emergence.
• Resistance penetration occurred at $0.00001300 level amid elevated volume.
• Session pinnacle reached $0.00001316 on an extraordinary volume of 943.1 billion tokens.
• Psychological support threshold at $0.00001300 successfully defended throughout rally phase.
• The token's destruction rate experienced an extraordinary 1,682% escalation with 1.3 million tokens withdrawn from circulation, whilst Shibarium network activity demonstrated resurgence with daily transactions surpassing 1.2 million.
• Financial markets presently assign 100% probability to U.S. interest rate reductions within eight days, with meme cryptocurrency derivatives exhibiting heightened institutional engagement as open interest in SHIB appreciated 4%.

Dogecoin whale stash rises

Dogecoin (DOGE), the world's leading meme token by market value, has surged over 10% in one week, largely driven higher by expectations for a spot Doge ETF approval in the U.S.

The rally is marked by a sharp rise in the number of coins held by DOGE whales.

According to Santiment, wallets holding 1M to 10M DOGE began accumulating during the late August dump and have since increased their total holdings to 10.91 billion DOGE, a nearly four-year high, representing 7.23% of the meme coin's supply.