According to @lookonchain, two dormant Bitcoin (BTC) wallets from 2011 have transferred 20,000 BTC, worth over $2 billion, to new addresses. While this massive movement from 14-year-old wallets could signal intent to sell, the funds were moved to non-exchange addresses, suggesting it may not be for immediate profit-taking. For traders, this on-chain activity warrants monitoring for potential market volatility. In the altcoin market, Shiba Inu (SHIB) whales capitalized on a price dip to a 16-month low, purchasing 10.4 trillion SHIB tokens worth over $110 million, the largest daily accumulation in five months. This buying pressure contributed to a 17% price bounce. SHIB's price is now forming a descending triangle pattern; a breakout above the trendline could signal a continued rally toward the $0.00001230 resistance, while a breakdown could indicate a bearish reversal.

According to KookCapitalLLC, Shiba Inu (SHIB) is showing potential for a price recovery following significant whale activity and key technical formations. After SHIB dropped to a 16-month low of $0.00001005, whales purchased 10.4 trillion tokens, worth over $110 million, marking the largest daily accumulation in five months. This buying pressure contributed to a subsequent price bounce. From a technical standpoint, SHIB's price is consolidating within a descending triangle pattern on the hourly chart. A breakout above the triangle's upper trendline could signal a continuation of the recovery, targeting resistance above $0.00001230. Conversely, a breakdown below the horizontal support at $0.00001160 could indicate a bearish reversal. Further bullish sentiment is supported by the formation of an "inside week" candle, which suggests seller exhaustion and a potential trend reversal after a prolonged downtrend.