Shiba Inu (SHIB) has become a focal point for significant whale activity this week, with large-scale investors seizing the opportunity to accumulate tokens at depressed prices. On-chain data analysis reveals a massive accumulation event on Monday, where whale wallets purchased a staggering 10.4 trillion SHIB tokens, an amount valued at over $110 million. This represents the most substantial single-day accumulation in the last five months and followed SHIB's drop to a 16-month low of $0.00001005 over the weekend. This aggressive buying pressure from large holders likely fueled the subsequent 17% price rally from those lows, as the token rebounded in concert with a stabilizing broader cryptocurrency market that was recovering from geopolitical tensions.

SHIB Price Forms Critical Pattern Amid Whale Buying

From a technical standpoint, Shiba Inu's price action is presenting a critical juncture for traders. Following the whale-driven bounce, the token established significant volume support around the $0.00001158 level. In the 24-hour period from June 24, 09:00 to June 25, 08:00, trading volume for SHIB surged to 439 billion tokens, far exceeding its daily average and indicating strong buyer interest at this support zone. However, since Tuesday, the recovery momentum has stalled. The price is now consolidating within what appears to be a descending triangle pattern on the hourly chart. This pattern is defined by a downward-sloping trendline acting as resistance and a horizontal support base. A decisive breakout above the descending trendline could signal a continuation of the recovery, with the next major resistance target located near the June 16 high of $0.00001230. Conversely, a breakdown below the horizontal support could invalidate the bullish case and trigger a new wave of selling.

Broader Crypto Market Pauses as Macro Factors Improve

While SHIB grapples with its technical pattern, the wider crypto market is showing signs of a potential pause. Bitcoin (BTC) has maintained its position, trading firmly around $107,714, but signs of profit-taking are emerging across major altcoins. Ether (ETH), which recently outperformed BTC amid strong ETF-related sentiment, has cooled after briefly touching the $2,800 mark and currently trades near $2,443. Other major assets present a mixed picture; Solana (SOL) is up over 3% to trade at $150.75, while Cardano (ADA) shows a modest gain of 0.50% at $0.5628. This suggests that while the overall market sentiment remains constructive, some traders are beginning to lock in profits as key assets approach local resistance levels.

Despite the short-term consolidation, the underlying macroeconomic and institutional backdrop is becoming increasingly favorable for digital assets. According to Augustine Fan, Head of Insights at SignalPlus, mainstream sentiment has shifted positively, partly due to successful and anticipated crypto-related public listings. Fan noted in a message that "BTC treasury plays have also been in vogue with a seemingly endless stream of companies looking to copy the MSTR playbook." This sentiment is echoed by Jeffrey Ding, Chief Analyst at HashKey Group, who pointed to progress in U.S.-China trade relations and softer inflation data as positive signals for risk assets. "We're optimistic that digital assets will continue to grow as macroeconomic influences find resolution while institutions further integrate within the industry," Ding stated. Kraken economist Thomas Perfumo further added that the market is seeing a "virtuous cycle" where structural products like spot ETFs are absorbing supply much faster than expected, reinforcing crypto's role as a macro hedge.