Shiba Inu Eyes 200-Day SMA Breakout as DOGE Whales Amass 10B Coin Stash
Meme coin momentum surges as Shiba Inu targets critical technical threshold while Dogecoin's biggest players go on a buying spree.
WHALE WATCHING INTENSIFIES
Shiba Inu's pushing against that 200-day simple moving average—a key resistance level that traders watch like hawks. Meanwhile, Dogecoin whales just added another 10 billion coins to their holdings. That's not pocket change, even for crypto's meme-loving elite.
TECHNICALS MEET WHALE MUSCLE
The 200-day SMA isn't just another line on the chart—it's the psychological battleground where bulls and wolves clash. Break above it, and Shiba could see renewed momentum. Hold below, and well, let's just say the 'buy the dip' crowd gets nervous.
Meanwhile, Dogecoin's big players clearly aren't waiting around for permission. Scooping up 10 billion coins signals either incredible conviction or spectacular recklessness—in crypto, it's usually both.
Remember when traditional finance types said meme coins were just jokes? Yeah—about that 10 billion coin 'joke' sitting in whale wallets now.
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- The token's destruction rate experienced an extraordinary 1,682% escalation with 1.3 million tokens withdrawn from circulation, whilst Shibarium network activity demonstrated resurgence with daily transactions surpassing 1.2 million.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.
