A mystery wallet has now withdrawn a total of $2.43 million worth of SHIB from Coinbase—a shift in positioning that suggests the muted near-term Shiba Inu price outlook could soon change.
The meme coin has been consolidating within a narrow range since February, in a side trend between $0.00001 and $0.0000177.
The unknown whale has moved another 111.5 billion SHIB on top of the 96 billion SHIB transferred the previous day—same sender, same destination—according to Arkham Intelligence explorer.
Tokens moving off exchanges typically signal that investor behavior is shifting toward HODLing, with holders opting for self-custody—a testament to long-term bullishness for SHIB.
Shiba Inu Price Analysis: Why HODL Now?
The whale move follows a recent breakout from the descending channel that has guided Shiba Inu’s price since its mid-May local top.
While the post-breakout momentum has stalled at the $0.000012 resistance, the setup points to a potential 55% move higher to retest the consolidation range resistance at $0.0000177.
SHIB now risks a false breakout as it retests the channel’s upper trendline as support. Momentum indicators remain bullish, but the balance is fragile.
The MACD line holds a narrow lead above the signal line after a golden cross—the first since mid-May—suggesting a short-term uptrend may be forming.
However, the RSI reflects a lack of conviction from buyers. Despite an uptrend signaling accumulation, the RSI has struggled to break above the neutral 45 line.
If SHIB falls back below the trendline, the failed breakout would open the door for a 12% drop to retest the consolidation range support around $0.00001.
SHIB is Struggling – Here’s a Strategy to See Bigger Gains
SHIB has been fading into the background for months while traders chased newer narratives—on the meme coin scene, attention is what drives upwards moves.
That’s where Snorter ($SNORT) steps in. Its purpose-built trading bot is engineered to spot early momentum, helping investors get in before the crowd—where the real gains are made.
While trading bots are not a new concept, Snorter has been designed specifically for sniping with limit orders, MEV-resistant token swaps, copy trading, and even rug-pull protection.
It’s one thing to get in first, it’s another thing to know when to sell—Snorter Bot can help.
The project is off to a strong start—$SNORT has already raised almost $1.4 million in its initial presale weeks, likely driven by its high 231% APY on staking to rewards early investors.
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The post Shiba Inu Price Prediction – Mystery Wallet Pulls 111 Billion SHIB From Coinbase: Here’s What Holders Need to Know appeared first on Cryptonews.
