Shiba Inu Whale Transactions Over $100K Plunge as U.S. Inflation Data Looms
Shiba Inu (SHIB) experienced a significant price surge, breaking key resistance levels and exhibiting strong bullish momentum despite a risk-off trend among large investors (whales). This surge follows a 91.5% drop in whale transactions exceeding $100,000 over four days, shifting market dominance from institutional to retail investors. This shift, according to CoinDesk’s AI insights, is noteworthy.
The price climbed from $0.0000129 to $0.0000134, a 4.6% gain within a total range of $0.00000063 (4.9%). A massive volume spike of 975 billion in the final hour was instrumental in breaking through the $0.0000133 resistance. This price action formed an ascending channel, marked by progressively higher lows at $0.0000129, $0.0000131, and $0.0000132. The next key resistance level for bulls to overcome is $0.0000135.
A particularly strong bullish breakout occurred between 07:11 and 07:16, with a 1.5% surge from $0.0000133 to $0.0000135. Following this, a new support zone formed around $0.0000134, solidified by multiple price tests. The increase in price also comes with a significant increase in the number of wallets holding SHIB tokens – a record 1.5 million, representing 0.011% of the global population, showcasing accelerated community growth. The cryptocurrency has also moved above the 100-day simple moving average (SMA).
This market activity occurs against the backdrop of anticipated U.S. inflation data. FactSet’s median year-over-year estimate for the May consumer price index is 2.5%, up from April’s 2.3%. This would mark the first month-over-month increase since January 2025, potentially aligning with the Federal Reserve’s data-dependent approach. While the anticipated rise is partly attributed to President Trump’s tariffs, market anticipation may minimize any significant negative impact from the inflation data release; dips, therefore, could be short-lived.
