Shiba Inu (SHIB) Eyes Breakout Amid Whale Accumulation and Market Rebound

Shiba Inu (SHIB) is showing early signs of recovery as it rebounds to the $0.0000131 level, reflecting renewed interest from traders. This uptick coincides with a broader crypto market rebound, with Bitcoin and Ethereum also regaining momentum. Despite this positive movement, SHIB remains locked in a narrow range between $0.0000122 and $0.0000131 since March 18, leaving investors cautious about a sustainable breakout.

Recent data shows a surge in whale inflows and netflows, hinting at possible accumulation by large holders betting on a long-term price increase. This aligns with improving overall market sentiment, which is driving renewed interest in altcoins like SHIB. At press time, SHIB was up 1.85% over the past 24 hours and 2.39% over the week, trading in the green for the second consecutive day since the March 21 dip.

Technical indicators suggest that a break above the critical $0.000014 resistance could trigger a bullish rally. However, failure to breach this level may lead to another pullback, with support levels likely to be retested. For SHIB to confirm a fresh uptrend, it would need to move past its 50-day and 200-day moving averages at $0.0000142 and $0.0000191, respectively.

While the price action remains range-bound, the mysterious 771,019% surge in SHIB burns and a massive 2025% inflow spike have added intrigue, pointing to increased activity within the ecosystem. Still, with 85% of SHIB holders currently not in profit, the path to a confirmed breakout remains uncertain.

Investors are closely monitoring SHIB’s next move, waiting to see if this rebound signals a sustained uptrend or merely a short-term bounce.