Shiba Inu On-Chain Volume Jumps 300%, Whales Accumulate
Shiba Inu’s on-chain volume surged over 300% on Aug 25, jumping from 1.1 trillion to 4.25 trillion tokens, according to Etherscan. The transaction count held steady at around 5,355, pointing to significant whale activity and potential wallet redistribution. Price remains in a narrowing symmetrical triangle between the 50-day and 200-day EMAs near $0.0000125, with solid support at $0.000012 and resistance near $0.000014. Neutral RSI and low exchange volumes suggest trader hesitancy. A breakout above the 26-, 50-, 100- and 200-day EMAs and the descending trendline could signal a bullish move toward $0.0000135–$0.0000142. Traders should watch whale transfers and resistance tests for clues on Shiba Inu’s next breakout.
Bullish
Shiba Inu’s 300% on-chain volume surge driven by whales indicates strong accumulation and reduced selling pressure on exchanges. The price’s position within a symmetrical triangle and above key EMAs suggests a likely breakout to the upside. Neutral RSI and low exchange volumes point to short-term caution, but sustained whale activity and shrinking reserves support a bullish trend longer term. Traders could see a rising breakout toward $0.0000135–$0.0000142 if resistance tests are successful. Overall, these factors favor a bullish outlook for Shiba Inu.