Shiba Inu records massive whale transfers – Momentum can extend IF…
Shiba Inu recorded a significant spike in whale transactions, the highest since June 6, signaling a shift in large-holder behavior. Over 1.06 trillion SHIB flowed into exchanges, indicating repositioning by major traders. Despite heavy inflows, SHIB respected key structural support levels instead of declining under selling pressure. The token broke out of a falling wedge pattern and is now retesting the upper boundary, with the $0.00000883 zone acting as a critical support. Technical indicators like the MACD show upward momentum tilt. Moreover, the Taker Buy CVD confirms strong buyer dominance and absorption of sell-side pressure, suggesting accumulation. A massive 1,244% surge in the burn rate reduced circulating supply, potentially tightening market conditions. Funding rates turned positive, reflecting growing conviction among long traders. Overall, these factors—whale activity, successful breakout, buy-side strength, supply reduction, and positive sentiment—create a supportive structure for SHIB to extend its upward momentum if the retest zone holds.
ambcrypto12/10 00:02