Shiba Inu Surges 15.65% as Whales Accumulate 1.81 Trillion SHIB

Shiba Inu, a popular memecoin, has recently experienced a significant surge in price and investor confidence, driven by a massive wave of whale accumulation. On-chain data reveals that large wallets have purchased a staggering 1.81 trillion SHIB in just the last 24 hours, marking a 422% increase from the previous day. This buying spree has fueled a bullish technical setup, pushing the token’s price against key resistance levels.

With a current price of $0.00001387, SHIB has gained 15.65% over the past week, indicating renewed strength in the market. The surge in whale activity, with wallets holding more than 0.1% of the total SHIB supply, suggests a potential major shift in the market. Whales have historically played a crucial role in driving price movements, and their recent behavior points to a more sustained uptrend. Analysts are optimistic about SHIB’s potential, with some stating that the market just needs a little nudge to drive further growth.

The daily chart for SHIB shows promising signs of bullish momentum, with the price steadily rising. SHIB is currently testing important resistance levels at $0.00001388 and $0.00001434. If the coin manages to clear these hurdles, it could quickly target $0.00001513. However, if it fails to break past these resistance zones, SHIB may face some consolidation or even retrace, with immediate support around $0.00001386.

Analysts have set their sights on some exciting price targets for SHIB. In the short term, SHIB is eyeing resistance at $0.00001718. Should the price manage to break through this, a run toward the $0.000018 level could be in the cards. Long-term projections are equally optimistic, with several analysts believing that SHIB could eventually reach $0.0001, a significant milestone both psychologically and technically. With growing community engagement, a robust tokenomics structure, and a strong burn strategy, SHIB seems to be positioning itself for continued growth.