![\"Shiba](\"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/wp-content\/uploads\/2024\/01\/3-mega-shiba-inu-whales-accumulate-in-trillions-amid-explosive-price-outlook-as-massive-shib-burn-expected.jpg\" "\\"Shiba")
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In the midst of a price lull for Shiba Inu (SHIB), a notable shift in the cryptocurrency landscape has emerged with a substantial accumulation of 140 billion SHIB tokens by a new whale.<\/p>\n
Popular crypto transaction tracking service Lookonchain highlighted this development on Thursday, just as the market anticipates an imminent breakout in SHIB prices. Notably, the noteworthy purchase is part of a larger trend, with four whales amassing<\/a> a total of 2.4 trillion SHIB from various exchanges over the past month.<\/p>\n One noteworthy instance involves a whale accumulating 1.44 trillion SHIB worth $14.54 million from both Binance and Gateio in the last three days. Another whale amassed 237.87 billion SHIB worth $2.4 million from Binance 19 days ago. Additionally, it\u2019s worth recalling that Justin Sun acquired 577 billion $SHIB from Binance about 22 days ago.<\/p>\n That said, the latest whale acquisition unfolds against a backdrop of strategic token removals from circulation. Just a day ago, and undisclosed entity moved 9.3 billion SHIB to a \u201cdead wallet\u201d<\/em> with the burn rate skyrocketing over 27,500% in under 24 hours as seen on Shibburn.<\/p>\n Concurrently, data from crypto analytics firm IntoTheBlock revealed a staggering 1,300% surge in large transactions by SHIB whales between Tuesday and Wednesday. These transactions, involving at least $100,000 worth of SHIB, numbered 62 and amounted to 9.38 trillion SHIB, valued at nearly $89.88 million.<\/p>\n  <\/p><\/div>\n Despite these developments, the \u201cDogecoin killer\u201d<\/em> has lagged behind other cryptocurrencies. Notably, in the past month, while Bitcoin (BTC) increased by 9.70% and Ethereum (ETH) by 17.85 %, SHIB registered a modest 5.86% gain, according to CoinMarketCap.<\/p>\n Shiba Inu\u2019s recent price fluctuations have prompted a more detailed analysis of critical support and resistance levels. The recent rebound above the 100 Exponential Moving Average is particularly noteworthy and considered a bullish signal. Presently, Shiba Inu<\/a> is confronting its most pivotal resistance at around $0.0000116. A breakthrough and sustained closure above this level might indicate a potential recovery, whereas a decline below it could trigger additional sell-offs.<\/p>\n Adding to the bullish perspective is the observation that the price is currently within a \u201cfalling wedge\u201d<\/em>, a robust bullish reversal pattern. The breakout from this pattern is often considered a strong indication of a potential upward trend.<\/p>\n At press time, SHIB was trading at $0.0000090, reflecting a surge of 2.85% over the past 24 hours.<\/p>\n<\/a> <\/p>\n<\/figure>\n\n