Shiba Inu Whales Moving Trillions Of SHIB — Will $0.0003 Price Be The Next Stop?

Shiba Inu (SHIB) has managed to maintain stability around $0.00001287, even as market uncertainty lingers. Whale activity is rising, sparking fresh interest in the meme-inspired cryptocurrency. But can SHIB gather enough momentum to cross $0.0003?

Recent data from IntoTheBlock shows a sharp increase in large SHIB transactions. Whale activity surged 41.39%, totaling 2.79 trillion SHIB, worth $76.48 million.

This rebound follows a significant drop earlier in December when volumes fell from 18.85 trillion SHIB to just 1.9 trillion SHIB. Such movements often reflect strategic accumulation or redistribution by major holders.

SHIB Price Holds Firm Amid Consolidation

SHIB’s price continues to hover above its 50-day moving average, showing resilience against market volatility. Currently trading at $0.00001289, it reflects steady support despite slowing momentum. Bollinger Band Percentage (BBP) data suggests further consolidation might be ahead.

Despite the spike in whale activity, overall transaction volumes have declined. Data from Santiment reveals daily volumes below 1 billion SHIB, down from earlier peaks this month. This dip hints at caution among retail investors, who may be waiting for clear market signals.

Daily active addresses are also on a downward trend. According to Santiment, the metric has dropped from over 18,000 in November to just above 2,500 now. This suggests a pullback in retail participation even as whales make bold moves.

What’s Next for Shiba Inu?

Shiba Inu’s price has found immediate support at $0.00001289, a level tested twice in the past 24 hours. Both times, buyers stepped in, causing a rebound and showing market resilience.

On the upside, $0.000012 turns out to be the immediate resistance. Any effort to penetrate to the next level has been countered by selling pressure, which triggered pullbacks. Thus, due to market uncertainty, SHIB is still oscillating within a narrow range.

The Shiba Inu token must break through and stand above $0.0000283 to enter a bullish trend again. Otherwise, a slide below $0.00001 can open the path to the downside, targeting $0.00002700. Reaching these levels will define SHIB’s short-term dynamics.

The 1-day RSI of SHIB is 50.44, meaning the token is in the neutral zone. This suggests that the market is not overbought or oversold, as is the case during the ongoing consolidation phase.

On the other hand, the MACD line below the signal line suggests that there may be short-term selling pressure.

SHIB’s immediate movement will be determined by how it is received if it manages to get out of this Range. Traders should closely monitor these critical support and resistance levels for a clearer trend.