🚨 SHIB Rebounds 3% After $36M Whale Transfer, But Trend Remains Bearish

Shiba Inu (SHIB) posted a sharp intraday recovery Friday, bouncing from $0.00001190 to $0.00001241 (up 3%) after initial panic over a 2.87 trillion SHIB transfer ($36M) to Coinbase Institutional subsided.

📉 Initial Reaction:

• Price dipped 7.7% Thursday on heavy volume (2.9B at 19:00 UTC).
• Whale alert triggered sell-off as wallets flagged the massive movement.

🧠 What Changed?

• Follow-up analysis from CoinDesk AI indicated it was market maker activity, not a liquidation.
• That helped cool fears and spark a quick rebound.

📈 Price Structure Update:

• SHIB held the $0.00001200 demand zone.
• Strong bid volume (32.3B) at 07:55 UTC hinted at quiet accumulation.
• Cleared resistance at $0.00001230, now consolidating around $0.00001220.

⚠️ Big Picture:

• Still down 10% on the week.
• Trading inside a descending channel (May 12–23 range).
• Bears in control unless SHIB breaks above upper trendline resistance.

🎯 Key Levels:

• Support: $0.00001200
• Resistance: $0.00001290 (channel top)
• Breakout above = trend reversal confirmation