SHIB Holds $0.000011 Support Amid Whale Buying and Bottom Signals
Shiba Inu (SHIB) has consolidated around a key support zone at $0.000011 after a 19% monthly decline and a $2 billion market-cap drop. On-chain data from IntoTheBlock shows 43.8 trillion SHIB were accumulated at $0.000011 across 222,450 addresses, forming a strong price floor. Whale wallets added over 1.3 trillion SHIB in 24 hours, driving net inflows to 1.34 trillion. Despite this, 88.88% of holdings remain out of the money and large transaction volume is down 88%, heightening sell-off risk if support breaks. Technical indicators offer mixed signals: a weekly double-bottom could target $0.000022, daily RSI nears oversold, and narrowing Bollinger Bands suggest short-term consolidation, but the MACD remains bearish and a close above the 20-day SMA at $0.0000124 is needed to confirm recovery. Traders should watch whale accumulation, burn rate improvements, and key levels at $0.0000110 and $0.0000124 for potential entry points. Additionally, Solana Layer 2 project Solaxy has raised $54.7 million in its $SOLX token presale, underscoring broader market fundraising activity.
Neutral
The news highlights both bullish and bearish signals for SHIB. Strong whale accumulation and a solid support zone at $0.000011 suggest buying interest and a potential bottom formation. However, high out-of-the-money positions, falling transaction volumes, and a bearish MACD indicator indicate persistent downside risk if key levels fail. Mixed on-chain data and technicals make a clear directional bias uncertain, leading to a neutral market outlook in the near term.