Shiba Inu Faces Resistance Despite Market Optimism: Whale Activity and Token Burn in Focus

Shiba Inu (SHIB) has struggled to gain upward momentum over the past week, despite Bitcoin nearing the $95,000 mark. After touching $0.00001514 on April 26, SHIB pulled back to around $0.0000132, highlighting investor hesitation and weak buying pressure.

Shiba Inu (SHIB) Price

Decline in Whale Activity Raises Concerns

On-chain data suggests a key reason behind SHIB's sluggish movement: a significant drop in whale activity. According to blockchain analytics firm IntoTheBlock, the volume of large SHIB transactions has hit a weekly low.

In the past 24 hours alone, only 1.79 trillion SHIB tokens moved across 34 large transactions, totaling just $23.66 million in volume. That’s a major decline compared to April 25, when 2.93 trillion tokens worth over $41 million changed hands in 109 whale transactions.

To put this into perspective, back on January 7, large SHIB transactions reached 34.42 trillion tokens, valued at over $750 million. The current numbers represent a steep drop in high-value trading interest.

Tight Price Range and Key Resistance Levels

Currently, SHIB is fluctuating within a narrow 24-hour window between $0.0000130 and $0.00001374. Analysts point to resistance levels that SHIB must break to regain bullish momentum.

A key price to watch is $0.000014. Market Spotter analysts say that reclaiming this level could mark a shift in sentiment and price direction. If SHIB can surpass its monthly high and break the upper resistance near $0.000018, it could overcome a massive 540 trillion SHIB sell wall spread across more than 152,000 wallets.

This move could flip the balance for SHIB holders: currently, only about 40% are in profit. A sustained rally above $0.000014 would push the majority into the green for the first time in weeks.

Mixed Technical Signals with a Bullish Twist

Despite subdued whale activity, not all signals are bearish. The Chaikin Money Flow (CMF) has recently turned positive, indicating that institutional or large-scale buyers may be stepping back in.

However, the Stochastic RSI remains between 9 and 11, suggesting SHIB is potentially undervalued at current levels.

Some analysts are even more bullish. One forecast suggests SHIB could rally as high as $0.000220—a potential 1,479% surge from current levels—setting a new all-time high if momentum returns.

Massive Token Burn Boosts Sentiment

One of the most notable developments this week is the aggressive SHIB token burn. Over 280 million SHIB tokens were destroyed in just 24 hours, marking a 38,299% surge in burn rate, according to data from Shibburn. This move reduces the circulating supply to roughly 584 trillion tokens and reignites hopes among SHIB enthusiasts who believe in the burn-and-hold model to create scarcity and drive long-term value. The community has long supported regular burns, and this renewed push could signal growing confidence among both retail investors and whales. What’s Next for SHIB? As of now, SHIB is trading around $0.00001332, with a market cap close to $8.04 billion. While trading volumes have cooled, sentiment in the broader crypto market is improving. Investors are closely watching whether whale interest will return and if SHIB can push through critical resistance zones.

The combination of token burns, technical indicators, and macro crypto optimism may set the stage for SHIB’s next big move.