Shiba Inu Whale Transactions Over $100K Drop by 91.5% Amid Inflation Concerns
Shiba Inu (SHIB) whales are reducing risk ahead of the upcoming U.S. inflation data, influenced by tariffs from President Donald Trump. Key points include:
- Whale transactions over $100,000 dropped by 91.5% in four days, shifting market control to retail investors.
- SHIB prices surpassed resistance at 0.0000133 with a volume spike of 975 billion.
- 1.5 million wallets now hold SHIB tokens, indicating community growth.
Technical Insights
- SHIB-USD rose from 0.0000129 to 0.0000134, reflecting a 4.6% increase.
- Volume spike led to breaking the 0.0000133 resistance level.
- Price action established an ascending channel with higher lows.
- The next resistance target is 0.0000135.
- A bullish breakout occurred with a price increase from 0.0000133 to 0.0000135 within five minutes.
- New support established around 0.0000134 after testing.
U.S. Inflation Focus
The median year-over-year estimate for the consumer price index for May is projected at 2.5%, up from April's 2.3%. If confirmed, this will be the first month-to-month increase since January 2025, supporting the Federal Reserve's cautious approach. The anticipated rise in inflation may not significantly affect the market due to prior discussions.