🌟 Shiba Inu Whales Go on a Buying Spree—Is a Bull Run Brewing?

The Shiba Inu (SHIB) market has recently shown promising signs of a bullish pivot. Big-pocketed investors—affectionately known as “whales”—have been snapping up the meme token, while a rare inside-week candle is hinting at a possible rebound. Let’s dive into the details.

Whale Accumulation Underway 🐳

• Over the past week, whales have scooped up an impressive 10.4 trillion SHIB tokens—about $110 million worth—according to CoinDesk’s AI-driven analytics (coindesk.com).

• Additionally, Santiment (as reported by Ainvest) noted that mid-sized wallets holding between 1–10 million SHIB boosted their holdings by 30 billion tokens, swelling to 2.03 trillion this month (ainvest.com).

Why That Inside-Week Candle Matters

• SHIB recently formed an "inside-week" candlestick pattern—where this week’s price action remains strictly within the bounds of last week’s range. This often signals seller exhaustion and sets the stage for a potential breakout .

• Indeed, the token saw an 11% weekly rebound, with trading on June 29 surging to 5.8× its average volume before breaking out of a consolidation zone (coindesk.com).

Key Technical Levels to Watch

• Resistance: High-volume selling was observed at $0.00001198, where profit-taking kicked in.

• Support: Buyers stepped in around $0.00001160, helping to stabilize the price (coindesk.com).

• A double-bottom formation and low RSI readings (reported by Ainvest) hint at further upside—if SHIB can surpass $0.00001755, a 55% rally may be on the cards (ainvest.com).

Fun Facts to Spice It Up

• Trillion-ton crypto: SHIB’s total supply is a mind-bending one quadrillion tokens—that’s a million billion, making every decimal move feel monumental (coinbase.com).

• Coin cousin to DOGE: Like Dogecoin, SHIB is a meme token—but it stands apart with its own decentralized exchange (ShibaSwap), NFT incubator, and a growing Ethereum-based ecosystem (coinbase.com).

• Burn baby, burn: In mid-June, daily burn rates spiked to over 112,000%, with more than 116 million tokens sent to unspendable "burn" addresses—a crafty tactic to simulate scarcity (coinbase.com).

What Lies Ahead?

• Bullish case: Sustained whale accumulation, technical confirmation via the inside-week candle, and short-term resistance cracking could propel SHIB into its next upswing.

• Bearish risks: If support at $0.00001160 fails, the pattern could break—potentially dragging prices toward the mid-April low near $0.00000997 (ainvest.com).

Quick Take

Scenario Key Level Potential Outcome Breakout > $0.00001198 Short-term rally possible Breakdown < $0.00001160 Further downside likely Mid-range Sideways between Consolidation until catalyst

Bottom Line: With whales gobbling up SHIB, an inside-week candle emerging, and strong technical indicators brewing, Shiba Inu may be gearing up for a comeback. But it’s crucial to keep an eye on those key levels—especially $0.00001160 (support) and $0.00001198 (resistance).