Shiba Inu Eyes 200-Day SMA as Dogecoin Whales Push Holdings to Four-Year High

Shiba Inu (SHIB) is attempting to secure a position above its 200-day simple moving average (SMA), signaling a potential shift from a bearish to bullish trend, as trading volumes surge.

Over the past 24 hours, SHIB climbed from $0.00001287 to $0.00001312, a 2% gain, trading near the 200-day SMA at $0.00001300. Analysts note that previous breakout attempts over the past month had failed, but this latest move shows stronger momentum, underpinned by rising volumes.

CoinDesk’s market insights AI model recorded an extraordinary 943.1 billion SHIB tokens traded as the price approached the 200-day SMA, suggesting significant institutional involvement.

Technical Highlights:

• SHIB gained 2% over 24 hours, moving from $0.00001287 to $0.00001312.
• Strong support formed near $0.00001270, with consistent buying pressure.
• Resistance at $0.00001300 is being tested amid heightened trading activity.
• The session high reached $0.00001316 on massive volume.
• Psychological support at $0.00001300 has held during the rally.
• Token burn rate spiked 1,682%, removing 1.3 million SHIB from circulation.
• Shibarium network activity rebounded, with daily transactions surpassing 1.2 million.
• Institutional interest is evident, with SHIB open interest up 4%, amid market expectations of U.S. rate cuts.

Dogecoin Whale Accumulation Hits Four-Year Peak

Dogecoin (DOGE) continues its recent rally, climbing over 10% in the past week, driven by optimism surrounding a potential U.S. spot DOGE ETF.

Whale wallets—holding 1 million to 10 million DOGE—have been actively accumulating since late August, bringing total holdings to 10.91 billion DOGE, a nearly four-year high and roughly 7.23% of circulating supply, according to Santiment.

The combined strength of SHIB approaching key technical levels and DOGE whales expanding their stash points to robust institutional and retail interest in meme tokens as the market prepares for potential catalysts in the coming weeks.