Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has captured the crypto community’s attention once again. This time, it’s due to a massive spike in whale activity that could be laying the groundwork for a significant price move. On-chain data reveals a stunning 522% jump in large transaction volume, strongly suggesting that big players are repositioning in anticipation of SHIB’s next major breakout.
Whale Activity Surges as Smart Money Enters
According to blockchain analytics firm IntoTheBlock, Shiba Inu’s large transactions, defined as transfers exceeding $100,000, surged to 1.95 trillion SHIB in the past 24 hours. This equals approximately $25.83 million in value, a dramatic increase that has sparked speculation across trading circles.
Historically, a surge in large transaction volume often coincides with increased interest from whales and institutional investors. These investors typically make their moves quietly during periods of low volatility or when an asset is consolidating its value. This kind of silent accumulation could indicate a strategic play ahead of a significant market shift.
Shiba Inu Eyes Recovery After Market Turbulence
Following a steep sell-off that wiped out nearly $1 billion in crypto positions over the weekend, SHIB is attempting a rebound. At the time of writing, SHIB has climbed 3.34% in the last 24 hours, trading at $0.00001326. This rebound follows a low of $0.00001226 recorded on May 31, signalling renewed bullish interest amid a broader crypto market recovery.
During the latest rally, SHIB reached an intraday high of $0.00001345 but met resistance. For traders closely monitoring key technical levels, the 50-day Simple Moving Average (SMA) at $0.00001384 remains a critical barrier. SHIB has struggled to break above this level consistently since late December, making it a vital threshold for any sustained upward movement.
Key Levels to Watch: SMA and Support Zones
If SHIB manages to push past the daily 50 SMA convincingly, the next major resistance lies at the 200-day SMA, currently sitting at $0.00001769. Surpassing this level could signal the beginning of a new leg in SHIB’s ongoing uptrend. On the flip side, if sellers regain control, SHIB might test its psychological support level at $0.00001, a zone where buying interest has historically emerged.
Related article: Shiba Inu Flashes Bullish Divergence as Market Sentiment Improves
Final Thoughts
The 522% increase in whale activity is not a statistic to ignore. It points to strategic movements from big-money players who may be preparing for SHIB’s next surge. While short-term volatility remains, this level of accumulation typically precedes major price action. Traders should closely monitor resistance levels and volume signals to catch the next potential breakout as the smart money positions itself ahead of the curve.
