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Shiba Inu is displaying indications of increasing market tension as on-chain data suggests a significant increase in large whale activity. The IntoTheBlock chart indicates that over the course of a 90-day period, the number of transactions for deals worth between $1 million and $10 million has increased by an astounding 450%.
Large holders' aggressive accumulation has historically preceded significant price movements, both upward and downward depending on sentiment and accompanying volume. Technically speaking, SHIB is currently trading just below the $0.000016 resistance level, which has historically been a difficult ceiling to overcome.
After a recent breakout above the 200 EMA, SHIB is currently unable to gain traction and is trading at about $0.000015. But the asset is currently perilously close to losing those gains. A decline toward the $0.00001420 or even $0.00001310 support levels could occur if $0.000015 is not maintained.
There are concerns about whether this whale accumulation is supported by real retail interest or just speculative positioning because of the volume's volatility and lack of consistency. SHIB may confirm bullish momentum and return to the $0.000018–$0.000020 zone if it can close a few consecutive sessions above the 200 EMA with increasing volume. However, sustainability is the issue.
This buying frenzy could turn into a local top rather than a breakout setup because the price is losing steam following a strong rally, and the RSI is starting to slope down from overbought levels.
One way or another, SHIB is at a turning point. The 450% whale transaction surge appears to be bullish, but it could quickly turn back into a distribution phase if it is not backed by renewed volume and broader market conviction. The real battle starts at the $0.000015 level, so traders should pay special attention to it.
Vladislav Sopov
Dan Burgin