Shiba Inu (SHIB) is back in the spotlight after whale investors scooped up 10.4 trillion tokens worth $110 million, sparking a surge in on-chain activity and bullish technical signals. After a sharp decline and waning investor confidence, whales are now accumulating billions in SHIB, reigniting short-term price and market optimism. Despite Shiba Inu’s prolonged consolidation, a sudden spike in on-chain activity has caught the market by surprise. For instance, Shiba Inu’s transaction volume soared to 24 trillion SHIB in early June, with whale activity surging 600%. This striking on-chain spike may be the reason why bullish momentum is starting to build, given that SHIB has already enjoyed a 4.3% increase over the past 24 hours, trading at $0.00001182. SHIB’s Golden Cross Pops Up According to market analyst Kryll, Shiba Inu is witnessing a golden cross amid intensified whale accumulation. Why is this bullish? Well, a golden cross happens when the 50-day moving average (MA) crosses above the 200-day one, signalling a potential trend reversal from bearish to bullish. Therefore, Shiba Inu’s short-term price momentum is gaining strength, which has the potential to boost sentiment through positive market psychology. Technical analyst Tom Tucker added , “SHIB is trading just above its YTD low, with a double-bottom pattern forming. Exchange supply is dropping, futures open interest is rising, and a BTC rally could add fuel.” Source: Tom Tucker Meanwhile, the Shibarium team recently unveiled a major upgrade aimed at boosting decentralization, privacy, and censorship resistance. Soon, rate limits will be enforced on public Remote Procedure Call (RPC) endpoints, marking a key move toward a more secure and resilient Shiba Inu network.
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