Shiba Inu (SHIB) Surges 9% as Whales Swallow 10.4 Trillion Tokens
While the crypto market was rocked by geopolitical tensions, Shiba Inu (SHIB) recorded a strong recovery after crypto whales unexpectedly returned, scooping up over 10.4 trillion SHIB tokens overnight.
Whales Return SHIB Escapes Bear's Grip
Last week, the market was in the red with Bitcoin (BTC) plunging to $98,400, dragging a series of altcoins into sharp corrections. Shiba Inu, a meme coin inspired by the Japanese dog breed, also fell to a new year low of $0.00001029 on June 23, 2025.
However, thanks to a double bottom pattern and unexpected buying from large investors, SHIB bounced 9% as buyers suddenly gobbled up a huge volume of tokens at low prices.
10T SHIB Collected Signs Whales Open Strong Positions
According to data from IntoTheBlock, investors holding between 10 and 100 trillion SHIB expanded their positions from 182.48 trillion on Sunday to 192.48 trillion on Tuesday. This sharp increase shows great confidence from whales in SHIB's resilience, at least in the short term.
SHIB Is Heading Towards Resistance Level of $0.00001223
Currently, SHIB is trading around $0.00001174, stuck in a narrow accumulation zone between $0.00001155 and $0.00001178, according to CoinGecko.
The technical chart shows SHIB retesting the key resistance level of $0.00001223. With the Chaikin Money Flow (CMF) indicator turning positive and SHIB reclaiming the lower and middle Bollinger Bands, the bullish trend is gradually forming.
In addition, the Parabolic SAR, a trend reversal indicator, is also showing positive signals, suggesting that bulls have the technical advantage in the short term.
Cons: SHIB Token Burn Rate Remains Weak
Despite the impressive recovery momentum, SHIB’s token burn rate is not very encouraging. In the last 24 hours, only about 1 million SHIB tokens (equivalent to 13 USD) were taken out of circulation, which is too little to create sustainable growth momentum.
Why is this important?
The large-scale buying by whales shows confidence in the temporary price bottom of SHIB. However, history has shown that even whales are not completely immune to market risks. A short-term recovery is possible, but sustainability will depend on real demand, market sentiment, and especially the ability to “burn” supply more effectively in the coming period.