- Whales have accumulated 10.4 trillion Shiba Inu (SHIB) tokens amid signs of market recovery.
- SHIB formed an inside-week candle as it broke out on high volume.
- If key resistance is cleared, the next target could be $0.00002.
Shiba Inu (SHIB), the dog-themed meme coin, has drawn renewed attention from traders and analysts following notable changes in on-chain activity and technical patterns.
After a period of steep declines and investor uncertainty, large holders have begun accumulating billions of dollars’ worth of SHIB, prompting fresh interest in the asset’s short-term price outlook.
Combined with strengthening technical signals and on-chain milestones, this renewed accumulation gives bulls reason for cautious optimism despite recent weakness across the broader crypto market.
Whales return amid sharp pullback
During a roughly 27% decline from mid-May through late June, whale investors stepped in to acquire approximately 10.4 trillion SHIB tokens, worth about $110 million.
This large-scale accumulation, revealed by AI-driven market insights from CoinDesk, suggests a shift in sentiment among major players who often act ahead of significant price reversals.
Historically, whale purchases have helped support SHIB’s price floor, and the latest accumulation coincided with the token hitting a 16-month low near $0.00001005.
As price started to recover, inflows from these large holders aligned with rising optimism and a tangible rebound in trading activity.
Inside-week candle signals potential reversal
One notable bullish technical development was the appearance of an inside-week candle, a classic chart pattern often seen at market turning points.
This formation emerged as SHIB rose nearly 8% over the seven days leading up to June 29, while price remained within the prior week’s range.
An inside-week candle typically reflects market hesitation after a strong trend and can indicate sellers are tiring, leaving room for buyers to regain control.
While not a standalone confirmation, the pattern’s appearance after a large sell-off adds weight to the growing bullish case.
Volume surge confirms momentum shift
Reinforcing the bullish outlook was a clear breakout on June 29, when SHIB spiked on trading volume that approached nearly six times the daily average.
The surge, occurring between 21:00 and 22:00 UTC, pushed the token to as high as $0.00001198 before profit-taking emerged near resistance.
Although price pulled back, support quickly formed around $0.00001160, highlighting renewed buyer interest and institutional activity during the intraday decline.
Analysts often view breakouts accompanied by strong volume as more reliable signals of trend continuation, especially when supported by bullish candle structure and accumulation by investors.
SHIB profitability climbs past a key level
According to data from IntoTheBlock, SHIB has reclaimed a critical psychological threshold, with over 100.54 trillion tokens now “in the money” — meaning they were bought at lower prices.
That represents roughly $1.16 billion of profitable SHIB holdings, a sharp increase from just days earlier when the figure dipped below 100 trillion.
Regaining this milestone indicates many traders are once again holding positive equity, which can boost confidence and reduce short-term selling pressure.
On-chain shifts in profitability of this magnitude often precede sustained rallies, particularly when paired with whale activity and improving technical indicators.
Technical indicators point to higher targets
From a technical perspective, SHIB appears to be stabilizing within a descending regression channel, echoing previous formations that preceded sharp upward moves.
The RSI currently sits around 42.05 after recently bouncing from oversold territory near 30 — a zone that has historically preceded price rebounds.
The MACD histogram has turned bullish and the MACD line has crossed above the signal line, suggesting an early-stage trend reversal.
If SHIB breaks above major resistance levels—specifically the 50-day and 200-day moving averages, near $0.000013 and $0.0000156 respectively—it could trigger a run toward $0.00002.
If a breakout follows past bullish structures, a rally to $0.000025 cannot be ruled out, though that would require sustained momentum and continued accumulation.
SHIB price outlook: levels to watch
Despite a modest pullback earlier in the week, SHIB remains in a tight consolidation range just above the $0.000011 mark, with support holding firmly around $0.00001000.
That support level helped halt the decline on June 22 and could serve as a springboard for further gains if momentum continues to build.
In the coming days, traders will closely watch how SHIB tests key resistance levels, which will help determine whether this recovery evolves into a broader uptrend.
A decisive close above $0.000013, backed by volume and ongoing whale accumulation, would offer strong bullish confirmation.
Until then, market participants will keep a close eye on SHIB as dynamics shift and sentiment tentatively tilts in favor of the bulls.