Shiba Inu Whales Go on Buying Spree—$0.0001 Price Target Now in Play
Crypto’s favorite meme coin is back in the crosshairs of deep-pocketed traders. On-chain data shows whales accumulating Shiba Inu (SHIB) at levels not seen since the 2021 bull run—just as the token tests key resistance levels.
Technical breakout or another ’dumb money’ trap? With retail traders still licking wounds from the last crypto winter, the big players are making moves that could either trigger a parabolic rally or yet another ’buy the rumor, sell the news’ fiasco. Only in crypto would a dog-themed token with zero utility spark this much ’serious financial analysis.’
Key levels to watch: A clean break above $0.00003 could open the floodgates toward that psychologically important $0.0001 mark. But with exchanges quietly increasing SHIB margin requirements—never a bullish sign—this might be less a moon mission and more another round of musical chairs.
Source: CoinGecko
Shiba Inu Follows Market Resurgence
SHIB’s latest rally comes amid a bullish breakout for the cryptocurrency market. Bitcoin (BTC) is testing the $105,000 mark. The original crypto could be on its way to a new all-time high.
According to the data from IntoTheBlock, the number of SHIB holders in profit has risen by 6.81%. A total of 45% of SHIB holders are currently in the money. Despite the recent turnaround, 51% of SHIB holders are still in the red.
Whale movement is a central element for Shiba Inu’s (SHIB) price movements. 74% of all SHIB tokens in circulation are held by whale wallets. IntoTheBlock notes that large transactions have fallen by 4.99%. This development may present some challenges to SHIB’s rally.
$0.0001 Closer Than We Think?
Shiba Inu (SHIB) has to rally by about 497.7% to hit the $0.0001 target. While the figure may seem significant, it is not something the project has not achieved before. From its launch in 2020 till it hit an all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent.
SHIB may continue its rally if bitcoin (BTC) maintains its upward momentum. Whale interest is another aspect that could help propel SHIB’s price.
The shiba inu (SHIB) team is reportedly working on a new burn mechanism, rumored to destroy trillions of tokens yearly. If the team can drastically reduce the project’s supply, we could reach the $0.0001 target very soon.
