- Whale transactions surge 228%, signaling renewed interest and possible accumulation of SHIB.
- SHIB burn rate spikes 22,604%, removing millions of tokens and tightening supply.
- Price nears breakout zone with resistance at $0.00001450; target set at $0.000081.
Shiba Inu (SHIB) has seen a rapid increase in whale activity, on-chain burning, and technical tightening that could lead to price expansion. Large holders are active again while short-term indicators suggest a breakout may be forming. We maintain our $0.000081 breakout target for SHIB, projecting a nearly +500% uphill run to reach it.
Whale Transactions Rise as Burn Rate Spikes
According to IntoTheBlock, Shiba Inu’s large transaction volume jumped by 228.41% over the past 24 hours, totaling $17 million or 1.27 trillion SHIB. These transactions, each above $100,000, point to increased movement by whales either accumulating or redistributing positions. The rise follows a period of steady volume decline since April 28.
At the same time, data from Shibburn confirms a 22,604% increase in SHIB’s burn rate within 24 hours. Around 25.77 million tokens were moved to dead wallets through four transactions. This brings the total supply burned to over 410 trillion SHIB, reducing circulation and possibly adding upward pressure over time.
Price Range Narrows Near Resistance as Bulls Hold Support
According to analysis prepared by Shib Knight via X, SHIB is approaching a formation breakout target of $0.000017. The token is currently trading around $0.00001310 and is positioned between the 50-day and 100-day moving averages. This forms a tightening technical zone that can often lead to strong price movement when resolved.
The current resistance zone lies between $0.000014 and $0.000019, where over 539 trillion SHIB are held by more than 150,000 addresses. SHIB last reached $0.00001525 on April 26 before entering its current range.
If bulls can push beyond $0.00001450, analysts see room to test higher levels such as $0.000018 and $0.000022. A confirmed breakout above these resistance levels, supported by whale activity and sustained buying, could drive momentum toward our long-term price target of $0.000081.
