- SHIB whale transfers surged without triggering a significant price drop.
- Analysts highlight resistance break that could lead to rapid gains.
- Technical charts show consolidation phase before potential breakout higher.
Shiba Inu (SHIB) saw a sharp surge in whale activity overnight, marking one of its busiest sessions in recent weeks. Data from IntoTheBlock indicated major token transfers by large holders in a short window. Despite the heavy movement, SHIB’s price stayed near recent levels without sharp declines.
Whale Transfers Jump While Price Stays Steady
Between August 12 and 13, large SHIB holders moved 351.6 billion tokens, up from 240.13 billion the previous day. This represented a 40% increase in outflows, according to IntoTheBlock. Historically, such movements can signal sales on exchanges or withdrawals to cold wallets.
The absence of a significant price drop during this spike suggested to analysts that whales may be parking tokens in private storage. “When we see heavy outflows without price erosion, it’s more often accumulation or repositioning, not liquidation,” one market analyst commented.
During the same period, SHIB’s price hovered around $0.000014, briefly reaching $0.00001425 before dipping to about $0.00001360 and then rebounding to $0.0000138. Trading patterns showed no panic selling, with buyers absorbing available supply and maintaining a stable range.
Analysts Eye Resistance Breakout Potential
Technical data showed SHIB approaching a critical resistance level that has capped recent rallies. The 4-hour SHIB/USDT chart on Binance revealed repeated tests of this barrier, marked by a horizontal resistance line. If broken, analysts suggest the move could accelerate buying momentum toward the $0.00002 level.
Analyst SHIB Mortal posted that SHIB appeared “ready for breakout,” highlighting bullish sentiment in the community. Chart patterns indicated a consolidation phase, often seen before sharp upward moves. Traders noted that sustained price action above the resistance zone could confirm a breakout and trigger further gains.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
