Shiba Inu Price Eyes Breakout as Whale Activity Surges 70% in 48 Hours

Shiba Inu is back in the spotlight, shaking off its recent lows with renewed buying energy. And robust price action that’s sparked talk of a bullish turnaround. As a long-term watcher of meme coins, I’ve been tracking whether SHIB’s price can snap back after steep corrections. And this week’s performance is setting up an intriguing narrative for both traders and long-term believers.

Factors Driving the SHIB Price

Whale activity is another major storyline. There’s been a 70% surge in large SHIB transactions over the past 48 hours. Historically, when whale activity spikes and volume stays consistently high (now above $220M/day), it’s often a precursor to outsized price swings.

Not everything is smooth sailing, though. The recent exploit on the Shibarium network did shake investor nerves. With TVL dipping and some uncertainty as validators scrambled to recover stolen assets. Yet, the fast-moving response and bounce-back in BONE staking demonstrate that developers and the broader community remain committed to building a secure.

Shiba Inu Price Analysis

SHIB’s journey over the last week has been nothing short of eventful. After a modest 0.97% climb in the past 24 hours and a noteworthy 7.38% rally for the week, the SHIB price now sits around $0.00001265. With a market cap holding above $7.45 billion and a 24-hour trading volume of around $221 million, SHIB is clearly maintaining its place as a high-liquidity altcoin.

One of the most promising shifts is SHIB’s move above its 7-day SMA at $0.00001246, underscoring a change in short-term trend. At the same time, the MACD histogram has just flipped positive, hinting that bullish momentum could be building beneath the surface. However, all eyes are on the $0.0000135 resistance, marked by the 100-day EMA. A break above this could rapidly push the price towards a key supply zone, stretching up to $0.000015 or higher.

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