Shiba Inu Approaches 200-Day SMA as DOGE Whale Holdings Surge
Shiba Inu (SHIB) is attempting to breach its 200-day simple moving average (SMA), with trading volumes rising sharply, signaling renewed bullish momentum.
Over the past 24 hours, SHIB rose from $0.00001287 to $0.00001312, nearing the 200-day SMA at $0.00001300. Trading volume spiked to 943.1 billion tokens, indicating significant institutional participation. The token’s recent price action is supported by a 1,682% increase in token burns, removing 1.3 million SHIB from circulation, while daily Shibarium transactions exceeded 1.2 million.
Key Technical Levels:
- Support: $0.00001270
- Resistance: $0.00001300
- Session High: $0.00001316
Meanwhile, Dogecoin (DOGE) rallied over 10% in the past week, driven by anticipation for the upcoming U.S. DOGE ETF. Whale addresses holding 1–10 million DOGE boosted their collective holdings to 10.91 billion DOGE, a nearly four-year high, representing 7.23% of the circulating supply, according to Santiment.
The combined activity in SHIB and DOGE highlights growing institutional interest and sets the stage for potential further gains as technical and ETF catalysts converge.
