SHIB Eyes Major Breakout as Whale Wallets Hold 95% of Supply
- 808 wallets control 94.68% of SHIB supply, creating significant whale-driven price concentration.
- A breakout above $0.00000540 could push SHIB toward $0.000006 and $0.000008.
- Falling below $0.00000500 could trigger selling pressure and expose SHIB to fresh lows.
Shiba Inu sits near a crucial technical turning point after weeks of price compression. The token now trades around $0.00000520 after a 1.71% daily decline. Meanwhile, whale wallets control almost 95% of circulating SHIB supply. Such concentration could amplify any major move from current levels. Traders now watch the $0.00000540 resistance and $0.00000500 support. A breakout could target $0.000006 and $0.000008, while weakness may expose lower levels.
SHIB Whale Concentration Raises Breakout Stakes
SHIB has reached the apex of a large symmetrical triangle pattern. TradingView data shows price compression near the pattern's narrowest point. The setup often precedes a stronger directional move after prolonged consolidation. Traders now await a decisive break above resistance or below support. Ethereum Token Analytics data shows major ownership concentration across SHIB wallets.
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