SHIB Jumps 17% Amid Whale Buys & Supply Burn Surge

Shiba Inu (SHIB) made headlines after jumping nearly 17% in a single day, thanks to a powerful combination of whale-driven accumulation and a jaw-dropping surge in token burns. Over 10 trillion SHIB tokens, worth more than $110 million, were reportedly scooped up by large holders, sending a strong signal to the market. This sudden interest from whales gave SHIB a short-term boost, stirring optimism in a token that’s often caught between hype and harsh technical realities.

But despite the rally, not everything is green just yet.

On-chain data reveals a looming challenge: a dense supply wall just below the $0.000012 price level. Approximately $400 million worth of SHIB, equating to around 33 trillion tokens, is clustered there. This means if prices approach that threshold, many investors may look to sell, potentially capping the upward momentum. It’s a critical resistance zone and one that SHIB will need serious strength to break through.

Technical indicators paint a mixed picture as well. Some charts show bullish crossovers forming from recent lows, suggesting a possible trend reversal. However, others warn of a potential “death cross,” a bearish signal where a short-term moving average crosses below a long-term one. Momentum indicators remain cautious, implying that the recent bounce might not yet be the start of a broader rally.

Still, SHIB’s community has reasons to stay hopeful. The most striking development lies in the burn rates. According to blockchain data, SHIB’s token burns have skyrocketed by over 112,000%, effectively removing a significant portion of the circulating supply. These burns are designed to increase scarcity over time, potentially supporting long-term value. For many SHIB supporters, this development is a reason to stay bullish, especially with price targets of $0.000017 or even $0.0007 floating in the most optimistic scenarios.

However, a key factor holding SHIB back on the institutional front is regulation. The United States Securities and Exchange Commission (SEC) has yet to approve a Shiba Inu-based exchange-traded fund (ETF), despite growing interest. Meanwhile, the SEC is reviewing a Canary PENGU ETF on the Cboe BZX exchange, showing that meme-based assets are on regulators’ radar, just not SHIB for now.

In summary, Shiba Inu is caught in a tug-of-war between bullish on-chain fundamentals and bearish technical signals. Whale buying and aggressive token burning offer strong support, but until SHIB can break through heavy resistance and win regulatory favor, it may remain in a volatile holding pattern. Still, for investors with a long-term view, the recent developments could be the early signs of a more sustained comeback.