The Shiba Inu (SHIB) market is buzzing after a massive whale moved 105.866 billion SHIB tokensâworth nearly $2 millionâin a series of eye-popping transactions from Coinbase. With whales stirring up the waters, the question on everyoneâs mind is: Could SHIBâs next rally be fueled by this whale action?
In the past 24 hours, Arkham Intelligence has flagged these significant whale withdrawals, triggering speculation and excitement. The anonymous whale, operating from the wallet â0x12F72,â made three major moves. The first saw 13.29 billion SHIB tokens worth around $253,330 leave Coinbaseâs hot wallet, followed by an even larger shift of 67.257 billion tokens. The last transaction, finalized just hours ago, added another intriguing layer to the mystery as the whaleâs new wallet had never appeared in on-chain data before. Is this a massive investor gearing up for something big, or could it be a strategic play by Coinbase itself?
đ„ SHIB Price Surges â Bullish Momentum Building? đ„
Following these major moves, Shiba Inu's price briefly broke out of a tight range, climbing to $0.00001933, attracting traders' attention. While SHIB had been consolidating between $0.0000175 and $0.000019 for the past week, this sudden breakout has sparked renewed interest.
But thereâs more â technical analysis points to bullish signals. A symmetrical triangle has formed on the daily chart, hinting at a potential price breakout as buyers start to take control. The Awesome Oscillator has flashed green, signaling rising bullish momentum, and the Relative Strength Index (RSI) at 61 suggests SHIB is still in the buyerâs zone, though it's been range-bound for some time.
đź Whatâs Next for SHIB? Will the Whale Make Another Move? đź
Despite the whaleâs recent activity cooling off, analysts are keeping a close watch. With 321 billion SHIB tokens transferred to exchanges in the past weekâhitting the highest netflows in seven daysâthere's a growing sense that some SHIB holders are ready to sell. Will this pressure drive the price down, or is a massive rally about to ignite?
According to Coinglass data, the market is tilting bullish, with 51% of traders holding long positions on SHIB, up from 49% just yesterday. Meanwhile, open short positions have dwindled, another sign that traders are banking on an upward trend.
đ Next Key Levels to Watch:
Resistance at $0.00001915 could be the next target if the price continues upward, marking the 100% Fibonacci retracement level.
Support at $0.0000179 is the line to hold if momentum shifts downward.
Whales, bullish indicators, and a hungry communityâis SHIB gearing up for a massive rally? As always in crypto, the tides can turn quickly, but one thingâs for sure: all eyes are on SHIB as the next chapter in this whaleâs journey unfolds.
Stay tuned for more updates on SHIBâs explosive potentialâthis market is heating up! đ„