Shiba Inu Whale Activity Surges 100% Amid 8% Price Gain

Shiba Inu (SHIB) has seen a significant rise in whale activity, with over 359.6 billion tokens—valued at approximately $4.9 million—being moved from exchanges to cold storage on August 7 [1]. This outflow suggests long-term accumulation by major holders, who often control more than 0.1% of a token’s circulating supply [1]. The movement aligns with a recent 8% price increase over the past 7 days, reinforcing a bullish sentiment among analysts regarding SHIB’s short- to medium-term trajectory [1].

Data from IntoTheBlock highlights a sharp increase in whale activity over the weekend following a period of minimal movement, which is typically interpreted as a sign of strategic accumulation [1]. As SHIB remains in an uptrend, the outflows from large wallets are seen as a positive signal for future price performance. However, the token has encountered resistance at the $0.00001400 level, with the price currently consolidating near a key support at $0.00001300, coinciding with the 200-period exponential moving average (EMA) on the 4-hour chart [1]. A successful bounce from this level could push the price toward $0.00001600 in the coming week, particularly if whale activity continues to intensify [1].

The Relative Strength Index (RSI) currently supports a bearish bias, having dropped below the 50 threshold and the 14-period moving average. A sustained RSI above 50 could signal a potential U-turn in price movement after a bounce from the support level [1]. Furthermore, a 26% decline in trading volume over the past 24 hours indicates that the current selling pressure may be part of a temporary pullback rather than a long-term downtrend [1].

Despite the optimistic technical indicators, becoming a SHIB millionaire at this stage would require a substantial initial investment, given the token’s current market capitalization of nearly $8 billion [1]. Analysts caution that while SHIB has potential, it is more likely that 10X or even 100X returns would come from smaller, high-growth projects rather than established tokens like SHIB [1].

Source: [1] Shiba Inu Price Prediction: Massive 100% Spike in Whale Activity – Can SHIB Make You a Millionaire? (https://cryptonews.com/news/shiba-inu-price-prediction-massive-100-spike-in-whale-activity-can-shib-make-you-a-millionaire/)