Whales Gobble 10.4 Trillion SHIB Tokens Amid Price Dip—Is This the Calm Before the Storm?

Shiba Inu's recent price slump didn't scare the big players—it fed them. While retail investors panicked, crypto whales quietly stacked 10.4 trillion SHIB tokens like discounted sushi rolls.

The whale watch is on

Blockchain trackers spotted the accumulation spree as SHIB flirted with multi-week lows. These deep-pocketed traders clearly see blood in the water—or at least an oversold meme coin with an army of barking supporters.

What the sharks know that you don't

Massive accumulations often precede price rallies, but in crypto, they could also signal another round of 'buy the rumor, sell the news' manipulation. After all, what's 10 trillion tokens between friends when you can move markets with a single trade?

As always in DeFi—watch the wallets, not the headlines. And maybe keep some treats handy for when the dogs start running again.

TLDR

• Whales accumulated 10.4 trillion SHIB tokens worth approximately $110 million during recent price drops
• SHIB formed an “inside week” candle pattern, suggesting potential pause in downtrend and possible upward movement
• Price broke out of consolidation pattern on June 29 with 5.8x above-average trading volume
• SHIB currently trades near $0.00001167 after dropping 27% since mid-May to 16-month lows
• Technical indicators show RSI at 43.17 and potential breakout target of $0.000025 if resistance at $0.00001733 is cleared

Shiba Inu has shown signs of stabilization after a prolonged decline that saw the token drop 27% since mid-May. The meme coin hit a 16-month low of $0.00001005 before beginning to recover.

Large investors have stepped in during the recent weakness. Whales purchased 10.4 trillion SHIB tokens worth approximately $110 million, according to CoinDesk’s AI insights.

The token currently trades NEAR $0.00001167. This represents an 11% bounce over seven trading days ending June 29.

SHIB formed what traders call an “inside week” candle pattern during this recovery period. This occurs when a weekly candle’s trading range sits entirely within the previous week’s range.

The pattern typically signals indecision between buyers and sellers. When it appears after extended downtrends, it often indicates seller exhaustion and potential upward price movement.

Volume Breakout Confirms Momentum Shift

Trading activity increased dramatically on June 29. SHIB broke out of its consolidation pattern during the 21:00-22:00 UTC hour with volume reaching 5.8 times the average.

The breakout pushed prices from $0.00001147 to a high of $0.00001198 during a 24-hour period. High-volume resistance formed at the $0.00001198 level before profit-taking pulled prices back.

Support established around $0.00001160 following the pullback. The 24-hour session closed at $0.00001164, representing a 1.4% gain from opening levels.

Recent hourly action showed two distinct phases. An initial decline to $0.00001056 occurred between 03:17-03:28 UTC on June 30. This was followed by a recovery attempt that peaked at $0.00001165 around 03:45 UTC.

Volume spikes exceeding 8 million USDT marked key reversal points at 03:35 and 03:49 UTC. These moves suggest institutional positioning during price swings.

Technical Indicators Point to Potential Upside

SHIB has formed a second descending regression channel similar to earlier patterns. The previous formation led to a rebound above $0.00001800.

The Relative Strength Index stands at 43.17 after touching 36.90. This indicates neutral momentum with room for upward movement. Historical data shows short-term bounces typically occur when RSI drops to the low 40s.

MACD values remain negative but show deteriorating bearish pressure. The convergence suggests weakening downward momentum.

A breakout above $0.00001733 WOULD confirm strength beyond the current regression channel. During the last rebound, prices surged once crossing this level.

Technical analysts suggest the price could reach $0.000025 if the breakout follows the same structure as previous patterns. This would represent more than double current trading levels.

The token’s movement over coming sessions remains under close observation as technical patterns align and resistance levels face testing. Current consolidation appears similar to formations that preceded earlier rallies.