The cryptocurrency market has been stirred by significant on-chain movements from both long-dormant Bitcoin (BTC) wallets and large-scale Shiba Inu (SHIB) holders, creating distinct trading narratives for two of the market's most-watched assets. While Bitcoin navigates the implications of colossal wealth transfer, Shiba Inu's price action is being shaped by whale accumulation and a critical technical pattern that could dictate its next major move.

Ancient Bitcoin Whales Resurface with $2 Billion Transfer

In a stunning development that captured the attention of market analysts, two Bitcoin wallets that had been inactive for nearly 14 years executed a massive transfer. According to on-chain data highlighted by the blockchain analysis service Lookonchain, the wallets, identified by their starting addresses "12tLs" and "1KbrS," moved a combined 20,000 BTC. At current market prices, with BTC trading around $108,835 on the BTC/USDT pair, this cache is valued at over $2.17 billion. The transaction is particularly noteworthy because these wallets originally received the coins on April 3, 2011. On that date, Bitcoin's price was a mere $0.78, meaning these early adopters have witnessed an astronomical return of more than 140,000 times their initial investment. Such a monumental unrealized gain naturally fuels speculation about imminent selling pressure.

However, a deeper look at the transaction details provides a more nuanced picture. The $2.17 billion worth of BTC was transferred to new, non-exchange addresses which have since remained dormant. This is a crucial distinction for traders. A move to a centralized exchange would be a strong bearish signal, indicating a clear intent to liquidate. In contrast, moving funds to new personal wallets could be for security purposes, such as upgrading wallet technology, or for inheritance planning. While the possibility of a future sale cannot be dismissed, the immediate market reaction has been relatively contained. Bitcoin's price has shown resilience, holding steady above the $108,000 support level and even posting a modest 24-hour gain of 0.48% to reach $108,835.56. This stability suggests that for now, the market is interpreting the move as a strategic reallocation rather than a precursor to a massive sell-off.

Shiba Inu Whales Accumulate as Descending Triangle Forms

Meanwhile, in the altcoin market, Shiba Inu has become a focal point of whale activity. Following a price dip to a 16-month low of $0.00001005, large-scale investors, or whales, initiated a significant buying spree. On-chain analysis revealed that these whales purchased a staggering 10.4 trillion SHIB tokens, valued at over $110 million, in a single day earlier this week. This represented the largest daily accumulation of SHIB in the last five months and directly contributed to a sharp 17% rebound from the recent lows. This bargain hunting suggests that major players see value at these price levels, providing a strong vote of confidence for the meme coin.

From a technical analysis perspective, SHIB's price action is now at a critical juncture. After its recovery stalled, the token has been consolidating within a descending triangle pattern. This pattern is defined by a flat, horizontal support line and a downward-sloping resistance trendline. Currently, the horizontal support is holding firm near the recent accumulation zone, while the descending trendline is squeezing the price lower. A decisive breakout above this trendline would signal a continuation of the recovery rally, with the first major target being the resistance level from June 16, located above $0.00001230. Conversely, a breakdown below the horizontal support would invalidate the bullish thesis and could trigger a new wave of selling. Traders are closely watching volume for confirmation; a high-volume move in either direction will likely determine SHIB's short-to-medium-term trend. As of the latest data, SHIB is trading around $0.00001162, testing the nerves of both bulls and bears as it coils within this pivotal pattern.