Shiba Inu (SHIB) price has settled at a crucial support level of $0.00001225, down 25% from its July peak and 63% from its November 2024 high. Despite recent pressure, on-chain data indicates significant accumulation by whale and smart money investors. According to Nansen, whale holdings have increased to 12.12 billion SHIB from an August low of 11.8 billion, while smart money holdings surged 86% in 30 days to 11.70 billion tokens.
Exchange supply has dropped to 282.7 trillion SHIB, down from 289 trillion in August, signaling reduced selling pressure and investor confidence in a rebound. Technically, SHIB is testing an ascending trendline that has supported prices since April 2024. A bounce could target resistance at $0.000016 (a 32% gain), though risks include declining burn rates and reduced activity on Shibarium.
Historical patterns show similar consolidation phases near $0.00001159 have preceded rallies to $0.00001698 and $0.00002052, though higher resistance levels near $0.00002970 remain untested. A break below support could invalidate the bullish thesis and push SHIB into uncharted territory last seen in early 2023.