The Shiba Inu (SHIB) price has been under pressure this week, falling almost 6% and dropping out of the top twenty digital assets, while the broader market is also slowing.
However, beneath the surface, whale and smart money activity is painting a very different picture, hinting at a potential explosive breakout in the near future.
Whales Accumulate 62 Billion SHIB
On-chain data from Nansen reveals that whales have been aggressively accumulating SHIB amid the price dip.
Large holders now control over 100.52 billion tokens, up significantly from 38.52 billion just last month. This means whales have scooped up 62 billion SHIB, worth over $745,000, in just a few days.
Smart money investors’ SHIB holdings have surged 98% in the past 30 days, reaching over 12.46 billion tokens.
Historically, such aggressive accumulation by whales and smart money tends to precede strong bullish reversals.
Moreover, investors have been steadily moving their SHIB tokens off exchanges and into self-custody wallets. The total exchange balance has dropped to 282.23 trillion tokens, compared to 290 trillion in August.
This suggests that selling pressure is weakening and holders are bracing for a long-term uptrend.
SHIB Price Analysis: Breakout or Breakdown?
The daily SHIB chart shows consolidation within a long-term symmetrical triangle, with the price hovering near $0.00001223.
Technical indicators remain neutral-to-bearish in the short term, with RSI at 42.12 (slightly oversold territory) and MACD showing muted momentum.
Source: TradingView
If SHIB breaks out of the triangle to the upside, it could rally as much as 308% toward the $0.00003787 resistance, with an extended target near $0.000050 if momentum accelerates.
However, failure to hold the current support could see SHIB decline another 15% toward $0.00001028, where buyers may attempt to defend the level before a stronger rebound.
$MAXI Presale Raises $2.4 Million as SHIB Approaches Breakout Point
As Shiba Inu (SHIB) eyes another rally, Maxi Doge ($MAXI) has emerged as a meme coin that transcends the typical playful branding of the sector, blending fitness culture with trading conviction.
The project has already raised a whopping $2.4 million in its ongoing presale.
Inspired by a muscular, gym-driven version of Doge, the token embodies values of persistence, confidence, and intensity.
The project’s mission is to empower small investors who aspire to make millions but often face disadvantages against larger players.
$MAXI introduces utility through staking rewards, weekly trading competitions, and gamified tournaments hosted via partner futures platforms. The ecosystem is further supported by a dedicated Maxi Fund, focused on liquidity and marketing campaigns.
To buy $MAXI at the current price of $0.000259, simply hover over to the official Maxi Doge website and connect a supported wallet, like Best Wallet.
You can swap crypto or use a debit/credit card to complete the transaction.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
