Will Whale Activity Push Shiba Inu to a 37% Breakout?

• Shiba Inu faces strong resistance at $0.00001190 despite 79% surge in trading volume
• Token burn stalls with 100% drop, but 4.7T SHIB remain locked in staking
• SHIB futures open interest dips 2.93%, with Binance holding dominant share

Shiba Inu (SHIB) has recently shown intriguing price behavior that has caught the attention of traders and crypto enthusiasts. Despite a minor daily dip of 0.40%, investor interest remains elevated. 

The spotlight now turns to a potential breakout fueled by heightened trading activity and large wallet movements. A recent spike pushed SHIB to $0.00001190, only to face immediate rejection. 

This pattern, combined with whale accumulation and sudden volume surges, has raised speculation about a possible 37% rally. Still, several hurdles must be cleared before bulls can truly take charge.

Trading Volume Surges, But Resistance Remains Strong

The recent 79% spike in trading volume reflects renewed enthusiasm in SHIB. Such a rise often precedes large price movements. However, the current price action shows a struggle to break beyond $0.00001190. 

This level marks the high of the recent rally and remains a solid resistance point. Intermediate resistance sits between $0.00001175 and $0.00001180. Any sustained push above this zone could open the path for more aggressive gains.

On the downside, SHIB finds solid footing at $0.00001115. This level has served as a reliable bounce point multiple times. A drop below this threshold, however, could trigger a bearish turn in the short term. The volume-to-market-cap ratio stands at a moderate 1.78%, indicating a healthy pace but not yet suggesting a breakout on its own.

Related: How Much Shiba Inu Would I Need to Have a $5 Million Retirement Portfolio

Burn Rate Stalls as Staking Stays Steady

Shiba Inu’s deflationary mechanics rely heavily on its token burn strategy. As of now, over 410 trillion SHIB tokens have been permanently removed from circulation. 

Despite this milestone, the recent halt in token burns raises concerns. Over the past 24 hours, no tokens were burned a 100% drop. This stall may reflect a pause in both community-led and automated burn efforts.

Related: What a $1,000 Investment in Shiba Inu Could Be Worth If SHIB Hits $0.0007

In contrast, staking activity appears stable. Nearly 4.7 trillion SHIB tokens remain locked as xSHIB, highlighting continued commitment from long-term holders. The current circulating supply sits at approximately 584.5 trillion tokens, keeping SHIB’s deflation narrative intact, albeit slightly slowed.

Futures Interest Slips, But Binance Holds Majority

Open interest in SHIB futures now stands at $60.8 million, reflecting a 2.93% daily decline. This pullback suggests some traders are reducing risk in the short term. Binance leads the pack with $41 million in open interest, while Bybit follows with $19.5 million. WOO X accounts for a negligible share.