Data from Santiment shows that wallets holding over 1 billion SHIB tokens have increased their holdings over the past few days. At the same time, mid-tier holders — those with between 100 million and 1 billion SHIB — have reduced their exposure. This divergence in wallet activity indicates a redistribution of supply between different investor groups.
Large wallet accumulation is often monitored to assess long-term sentiment. The increase in holdings among the top-tier wallets suggests a preference for continued exposure to the asset. Meanwhile, the reduction from mid-tier holders may reflect profit-taking or reallocation strategies.
Burn Rate Jumps 2,400% as 39M Tokens Removed in 24 Hours
Alongside whale accumulation, Shiba Inu has seen a major spike in its burn activity. Data from Shibburn shows that over 39 million SHIB tokens were permanently removed from circulation in the last 24 hours — a 2,400% increase compared to the previous day.
This burn contributes to a long-term reduction in SHIB’s circulating supply, even though the volume burned remains small relative to its overall token count.
SHIB’s futures data also shows key developments. Open interest — the total value of outstanding futures contracts — has increased. This suggests more traders are entering leveraged positions. However, funding rates remain mixed, indicating that market sentiment is not heavily skewed toward bullish or bearish positions.
Liquidation activity remains low, showing that positions are relatively balanced and not overly leveraged. This points to a stable trading environment without sudden price-driven liquidations.
Shiba Inu Holds $0.00001175 Support — Will It Crack the Resistance?
Shiba Inu coin price recently bounced from the $0.00001175 level, which aligns with the 1.618 Fibonacci retracement of the recent decline. This support has held over several sessions, reflecting buyer activity at lower levels. As of now, Shiba Inu to USDT currently stands at $0.00001300 — close to a key resistance zone last tested in late May.
The Relative Strength Index (RSI) has recovered from oversold conditions and is currently near the neutral 50 mark. This reading indicates that price momentum is stable, without significant pressure from either buyers or sellers. The market is consolidating just below resistance, with participants waiting for directional confirmation.
If SHIB breaks above the $0.0000132 resistance level, the next technical target lies between $0.0000142 and $0.0000145. This would require sustained buying volume and strong market support. On the downside, if resistance holds and price weakens, support is expected again at $0.00001175.
The short-term outlook remains neutral. Accumulation by whales, rising open interest, and increased burn rate indicate positive underlying fundamentals. However, without a clear breakout, SHIB may continue trading within the $0.0000117 to $0.0000132 range in the near term.