{"id":30610,"date":"2025-06-06T13:17:49","date_gmt":"2025-06-06T13:17:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=30610"},"modified":"2025-06-06T13:17:49","modified_gmt":"2025-06-06T13:17:49","slug":"shiba-inu-recovers-amid-massive-36m-whale-transaction-still-stuck-in-downward-channel","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=30610","title":{"rendered":"Shiba Inu Recovers Amid Massive $36M Whale Transaction; Still Stuck in Downward Channel"},"content":{"rendered":"<div>\n<p>Memecoin Shiba inu SHIB has chalked out a 3% recovery from overnight lows under $0.00001200, outperforming bitcoin BTC despite reports of a massive whale transaction.<\/p>\n<p>On Thursday, SHIB experienced a significant 7.7% correction, dropping to 0.0000119 before finding strong support at the 0.0000120 level. Prices have since bounced to $0.00001241, according to CoinDesk data.<\/p>\n<p>A massive whale transaction of 2.87 trillion SHIB, worth $36 million to Coinbase Institutional, initially triggered market concerns, according to CoinDesk&#8217;s AI research. The transaction, however, was later identified as being associated with market maker custody rather than a whale looking to sell coins.<\/p>\n<p>However, despite the recovery, SHIB still trades 10% lower for the week as investors navigate broader market pressures. Furthermore, the cryptocurrency remains stuck in a downward-trending channel, identified by trendlines connecting the highs on May 12 and May 23 and the low on May 17.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/7c6d14a08dc79c5918e6b844439f5909a2ff30d0-2848x1352.png?auto=format\" alt=\"SHIB's daily price chart. (TradingView\/CoinDesk)\" title=\"SHIB's daily price chart. (TradingView\/CoinDesk)\"><\/p>\n<h4>AI technical insights for the past 24 hours<\/h4>\n<ul>\n<li>SHIB dropped from 0.0000129 to a low of 0.0000119, representing a 7.7% decline with exceptionally high volume (2.9B) during the 19:00 hour sell-off.<\/li>\n<li>The price found strong support at the 0.0000120 level, with accumulation evidenced by above-average volume, establishing a clear demand zone.<\/li>\n<li>An ascending support trendline has formed during the recovery phase, with the price stabilizing around 0.0000122, approximately 4.9% above the period low.<\/li>\n<li>SHIB demonstrated a significant recovery pattern in the last hour, climbing with notable volume spikes.<\/li>\n<li>Substantial accumulation occurred at 07:55 with exceptionally high volume (32.3B).<\/li>\n<li>A clear resistance zone emerged at 0.0000123, which was successfully breached during the final minutes of the period.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Memecoin Shiba inu SHIB has chalked out a 3% recovery from overnight lows under $0.00001200, outperforming bitcoin BTC despite reports of a massive whale transaction. On Thursday, SHIB experienced a significant 7.7% correction, dropping to 0.0000119 before finding strong support at the 0.0000120 level. Prices have since bounced to $0.00001241, according to CoinDesk data. A [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-30610","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/30610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30610"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/30610\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}