Shiba Inu Poised for Major Breakout as Whale Wallets Hold 95% of Supply

Shiba Inu (SHIB) is near a critical technical turning point after weeks of price compression. The cryptocurrency currently trades around $0.00000520, down 1.71% from yesterday's prices.

The token has reached the apex of a large symmetrical triangle pattern and is poised for a major directional move. A breakout above $0.00000540 could push SHIB toward $0.000006 and $0.000008.

The concentration of ownership among whale wallets adds significant weight to this potential breakout. According to data from Ethereum Token Analytics, 808 wallets control approximately 94.68% of circulating SHIB supply, with the top 100 wallets holding around 82.73%.

Traders now watch the $0.00000540 resistance level closely, as a confirmed close above this price could strengthen the bullish setup. On the other hand, falling below $0.00000500 could trigger selling pressure and expose SHIB to fresh lows.